Domino's Pizza Enterprises faces class action for misleading comments in Japan market

From Investing.com: 2024-09-08 22:36:01

Domino’s Pizza Enterprises faces a shareholder class action alleging misleading conduct in Japan performance expectations. Shares dropped 2.5% to A$29.18, hitting lowest point since August. Legal action filed by Echo Law on behalf of shareholders who entered equity swaps between Aug. 18 and Nov. 3, 2021. Domino’s acknowledged the class action in a Nov. 3 announcement.

Despite shareholder dispute, Domino’s claimed strong performance in Japan with “excellent compounding sales.” The company highlighted continued new store openings and increased sales and customer counts post-COVID. However, shares hit a nine-year low in July following closure of low-volume stores in Japan and France. Echo Law did not provide additional comments on the situation.



Read more at Investing.com: Australia’s Domino’s served with class action on ‘misleading’ Japan market comments By Reuters