Kessler Topaz Meltzer & Check, LLP Filed Securities Class Action Lawsuit Against Restaurant Brands International Inc.
RADNOR, Pa., January 29, 2021 / PRNewswire / – Law firm Kessler Topaz Meltzer & Check, LLP advises investors that a security fraud class action has been brought against Restaurant Brands International Inc. (NYSE: QSR) (“Restaurant Brands”) on behalf of those who purchased or otherwise acquired common shares of Restaurant Brands between April 29, 2019, and October 28, 2019including (the “Class Period”).
KTMC (PRNewsFoto / Kessler Topaz Meltzer & Check)
Investors who have purchased or otherwise acquired Restaurant Brands common stock during the class period can no later than February 19, 2021try to be appointed as the plaintiff’s principal representative of the class. For more information or to learn how to participate in this litigation, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll free at (844) 887-9500; by email to firstname.lastname@example.org; or click on https://www.ktmc.com/restaurant-brands-international-inc-securities-class-action?utm_source=PR&utm_medium=link&utm_campaign=restaurant_brands
Restaurant Brands is a Canadian company headquartered in Toronto, Ontario, Canada. It is one of the world’s largest restaurant chains with over 27,000 Tim Hortons, Burger King and Popeyes restaurants in more than 100 countries and US territories. On April 24, 2018, Restaurant Brands announced a new strategy to improve the performance of its Tim Hortons brand. In particular, the Winning Together Plan would focus on three key pillars: restaurant experience; Product quality; and brand communication. Then further 20th March 2019, Restaurant Brands announced “Tim’s Rewards” – a new loyalty program for Tim Horton’s customers in Canada. As part of the Tims Rewards program, customers receive free hot coffee, hot tea or baked goods after every seventh visit to a participating Tim Hortons restaurant. On April 10, 2019, Restaurant Brands announced that the Tims Rewards program is expanding to include customers The United States.
The story goes on
The lesson begins on April 29, 2019ended when Restaurant Brands released its financial results for the first quarter March 31, 2019 with the SEC. Among other things, Restaurant Brands recorded system-wide sales growth of 0.5% for Tim Hortons compared to the previous year with system-wide sales of $ 1.547 billion. The complaint alleges that throughout the classroom, the defendants repeatedly touted the implementation and execution of Restaurant Brands’ Winning Together Plan loyalty program and Tims Rewards. Shortly after Restaurant Brands touted the benefits of these initiatives, the company closed two stock offers August 12, 2019, and 5th September 2019which together result in a revenue of about $ 3 billion to insiders.
However on October 29, 2019The truth about Restaurant Brands’ implementation of the Winning Together Plan and Tims Rewards loyalty program emerged when the company announced disappointing financial results for the end of the third quarter 30. September, 2019. Among other things, Restaurant Brands reported a system-wide revenue decline of 0.1% year-on-year for Tim Hortons – which corresponds to a revenue decrease of 1.4% in the same store – with system-wide revenue of $ 1.774 billion. Following the news, Restaurant Brands common shares fell $ 2.59 per share or approximately 4% of a closing price of $ 68.45 per share on October 25, 2019to close at $ 64.86 per share on October 28, 2019.
The complaint alleges that throughout the classroom, the defendants misrepresented and / or failed to disclose: (1) Restaurant Brands’ Winning Together plan failed to materially improve the Tim Hortons brand. (2) Tims Rewards’ loyalty program did not result in sustained sales growth as increased customer traffic could not offset the discounts. and (3) as a result, Defendants’ assertions about the business, operations and prospects of Restaurant Brands were unfounded.
Restaurant brands investors can do so at the latest February 19, 2021, attempt to be appointed lead class agent by Kessler Topaz Meltzer & Check or other attorney, or choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the dispute. To be named lead plaintiff, the court must determine that the class member’s claim is typical of the claims of other class members and that the class member is adequately representing the class. Your ability to get involved in a recovery will not be affected by whether or not you will be the lead plaintiff.
Kessler Topaz Meltzer & Check pursues class action lawsuits in state and federal courts across the country that include securities fraud, fiduciary violations, and other violations of state and federal law. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform and has collected billions of dollars on behalf of institutional and individual investors The United States and all over the world. The company represents investors, consumers and whistleblowers (individuals who report fraudulent practices against the government and are involved in recovering government dollars). The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check. Further information on Kessler Topaz Meltzer & Check can be found at www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro Jr., Esq.
Adrienne Bell, Esq.
280 Street of the King of Prussia
Radnor, PA 19087
(844) 887-9500 (toll free)
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