The lawsuit, filed in the U.S. District Court of Colorado, argues that Denver-based Chipotle deceived both investors and customers into believing that the chain had fixed its food safety issues, and in doing so kept its stock price artificially high; now, theyre losing money thanks to the falling stock.
As a result of Defendants' wrongful acts and omissions, and the precipitous decline in the market value of the Company's securities, Plaintiff and other Class members have suffered significant losses and damages, the suit claims. The companys stock price has fallen by more than 10 percent this week.
The plaintiffs are seeking damages and legal fees. The suit also names founder and CEO Steve Ells, former co-CEO Marty Moran, and chief financial officer John Hartung as defendants.
Eater
These guys can't catch a break.