NEW ORLEANS, Jan. 3, 2025 -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into Starbucks Corporation ("Starbucks" or the "Company") (NasdaqGS: SBUX).
On April 30, 2024, the Company announced its financial results for the second quarter of its fiscal year 2024, disclosing that store sales had declined globally by 4%, with traffic falling 7%, as well as a 2% decline in new revenues. The Company also disclosed that it lowered its guidance for FY 2024, citing global declines in store sales, net revenues, and both GAAP and non-GAAP earnings due to issues in the Chinese market, "the effects of a slower-than-expected recovery," as well as "fierce competition among value players in the market."
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period in violation of federal securities laws, which remains ongoing.
KSF's investigation is focusing on whether Starbucks' officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Starbucks shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-sbux/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
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