NEW YORK, NY / ACCESSWIRE / November 11, 2020 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Restaurant Brands International Inc. ("Restaurant Brands" or the "Company") (NYSE:QSR) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Restaurant Brands securities pursuant and/or traceable to the Company's secondary public offerings conducted in August and September 2019 (the "SPOs" or "Offerings"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/qsr.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1933.
The complaint alleges that the Shelf Registration Statements of the SPOs featured false and/or misleading statements and/or failed to disclose that: (1) Contrary to the Shelf Registration Statement's claim that the Company had "three thriving, independent brands with significant global growth potential," the Tim Hortons brand was not positioned for growth; (2) the Tims Rewards and its significant discounting was not increasing profitability as evidenced by weekly sales data because, as would later be admitted, the program could not be supported by existing customer traffic and instead negatively affected sales; (3) product offerings were not driving growth or expanding the Company's customer base and as a result, as the Company would later admit, the Company's product offerings resulted in a gap in sales of its sandwiches and wraps; (4) despite its purported "steps to address this part of the menu," the Company was reporting weak year-over-year sales comparisons based on its product offerings and was unable to compete effectively; (5) the discounting associated with Tims Rewards was not sustainable, as customer traffic was not offsetting the program's discounts; (6) the Company was not realizing the purported benefit of the loyalty program as evidenced by weekly sales reports; (7) the Company's product offerings were similarly not increasing customer traffic, especially as compared to its competitors; and (8) as a result of the negative effect on Tim Horton's sales, the Company was not "maintain[ing] its competitive position."
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/qsr or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Restaurant Brands you have until December 28, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC