LOS ANGELES--(BUSINESS WIRE)--
Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased Dollar General Corporation (“Dollar General” or the “Company”) (NYSE: DG) securities between March 10, 2016 and November 30, 2016, inclusive (the “Class Period”). Dollar General investors have until March 20, 2017 to file a lead plaintiff motion.
Investors suffering losses on their Dollar General investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to [email protected].
Dollar General is a discount retailer that provides various merchandise products in the Southern, Southwestern, Midwestern and Eastern United States. A large portion of the Company’s revenues are derived through customers use of welfare benefits to purchase merchandise.
According to the Complaint filed in this Class Action, throughout the Class Period Defendants made false and/or misleading statements regarding the impact of limitations on welfare benefits (“SNAP benefits”) announced by various states. Notably, throughout the Class Period, the Company downplayed analyst concerns regarding the implementation of the SNAP restrictions and its impact on the Company’s performance. However, unbeknownst to investors, a majority of Dollar General’s stores are located in states that re-implemented time limitations on SNAP benefits in 2016, and therefore the impact of SNAP reductions would be disproportionate to the percentage of the Company’s overall sales comprised of SNAP payments.
If you purchased shares of Dollar General during the Class Period you may move the Court no later than March 20, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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