SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP investigates claims on behalf of Lamb Weston investors

James (Josh) Wilson, securities litigation partner at Faruqi & Faruqi, LLP, encourages investors who suffered losses of more than $100,000 at Lamb Weston to contact him directly to discuss their options

If you have incurred losses exceeding $100,000 on investments in Lamb Weston stock or options between July 25, 2023 and April 3, 2024 and would like to discuss your legal rights, Call Faruqi & Faruqi Partner Josh Wilson direct at 877-247-4292 or 212-983-9330 (extension 1310). For more information you can also click here: www.faruqilaw.com/LW.

New York, New York–(Newsfile Corp. – June 22, 2024) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Lamb Weston Holdings, Inc. (“Lamb Weston” or the “Company”) (NYSE: LW) and reminds investors of the Deadline: 12 August 2024 to serve as lead plaintiff in a federal securities class action lawsuit filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. Since its founding in 1995, the firm has recovered hundreds of millions of dollars for investors. See www.faruqilaw.com.

According to the complaint, defendants made numerous material misrepresentations and omissions regarding the design and implementation of Lamb Weston’s new ERP system. Specifically, throughout the class period, defendants claimed that Lamb Weston had “strengthened its operational infrastructure” by designing the company’s new ERP system. The company also downplayed any problems it had in implementing the system as merely “common obstacles” and told investors that its fiscal year 2024 financial guidance adequately accounted for any negative financial impacts related to the system’s implementation.

The truth came to light on April 4, 2024, when Lamb Weston revealed that it had experienced significant challenges in transitioning to its new ERP system. The disastrous implementation resulted in the company losing $135 million in revenue in the third quarter of fiscal 2024 and having to cut its full-year revenue forecast by $330 million.

On this news, Lamb Weston’s stock price fell $19.59 per share, or over 19%, to close at $81.53 per share on April 4, 2024.

The court-appointed lead plaintiff will be the investor with the greatest financial interest in the relief sought by the class, who is reasonable and typical of class members, and who will direct and oversee the litigation on behalf of the putative class. Any member of the putative class may, through counsel of his or her choosing, ask the court to serve as lead plaintiff, or he or she may choose to do nothing and remain an absent class member. Your ability to share in any relief will not be affected by your decision to serve as lead plaintiff.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Lamb Weston’s conduct, including whistleblowers, former employees, shareholders and others, to contact the firm.

Learn more about the Lamb Weston Class action lawsuit, go to www.faruqilaw.com/LW or Call Faruqi & Faruqi Partner Josh Wilson direct at 877-247-4292 or 212-983-9330 (extension 1310).

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To view the original version of this press release, please visit https://www.newsfilecorp.com/release/213970