Final Deadline Approaching: Kessler Topaz Meltzer & Check, LLP Reminds Investors of Class Action Lawsuit Filed Against Restaurant Brands International Inc. | News
RADNOR, Pa., February 17, 2021 / PRNewswire / – Law firm Kessler Topaz Meltzer & Check, LLP advises investors that a securities fraud class action has been brought against Restaurant Brands International Inc. (NYSE: QSR) (“Restaurant Brands”) on behalf of those who purchased or acquired Restaurant Brands common stock between April 29, 2019, and October 28, 2019including (the “Class Period”).
Reminder: Investors who have bought or acquired Restaurant Brands common stock during class time, not later than February 19, 2021try to be appointed as the plaintiff’s principal representative of the class. For more information or to learn how you can 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; per email to firstname.lastname@example.org; or click 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 next 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 lesson starts 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 class, the defendants repeatedly touted the implementation and execution of Restaurant Brands’ Winning Together Plan and Tims Rewards loyalty program. 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 0.1% year-on-year system-wide revenue decline for Tim Hortons – a 1.4% revenue decrease 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 produce any material, sustained improvement in the Tim Hortons brand. (2) The Tims Rewards loyalty program did not generate sustained revenue growth as increased customer traffic could not offset the discounts. and (3) as a result, Defendants’ statements about the business, operations and prospects of Restaurant Brands were lacking in reasonable basis.
Restaurant brands Investors can not later than February 19, 2021, seek to be named the class lead plaintiff by Kessler Topaz Meltzer & Check, LLP, or other lawyer, 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, LLP, pursues class action lawsuits in state and federal courts across the country involving securities fraud, fiduciary violations, and other violations of federal and state law. Kessler Topaz Meltzer & Check, LLP, 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). For more information on Kessler Topaz Meltzer & Check, LLP, please visit 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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