Sweetgreen, Inc. (SG)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Sweetgreen, Inc. (“Sweetgreen” or “the Company”) (NYSE: SG). Investors who purchased Sweetgreen securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Sweetgreen has violated federal securities laws.
On November 18, 2021, Sweetgreen conducted its initial public offering, selling 13 million shares of the Company’s common stock priced at $28.00 per share. Then, after the market closed on November 2, 2023, Sweetgreen announced its financial results for the third quarter of 2023. Among other things, Sweetgreen reported a revenue figure of $153.4 million, missing consensus estimates by approximately $1.25 million. Although the Company reported that its total revenue represented a 24% increase versus the prior year period, it stated that the increases were partially offset by a $1.1 million negative impact from restaurant closures and remodels that occurred subsequent to September 25, 2022, and an increase in discounts. On this news, Sweetgreen’s stock price fell $1.34 per share, or 12.10%, to close at $9.73 per share on November 3, 2023.
If you are aware of any facts relating to this investigation or purchased Sweetgreen securities, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
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