Robbins LLP is Investigating Allegations that Lamb Watson Holdings, Inc. (LW) Misled Investors Regarding its Design and Implementation of its new ERP System
Robbins LLP informs investors that a shareholder filed a class action on behalf of persons and entities that purchased or otherwise acquired Lamb Weston Holdings, Inc. (NYSE: LW) securities between July 25, 2023 and April 3, 2024. Lamb Weston is a large producer of frozen potato products, which it sells to restaurants and retailers around the world.
The Allegations
According to the complaint, during the class period, defendants failed to disclose significant problems with the Company’s Enterprise Resource Planning software system. On April 4, 2024, the Company revealed that the disastrous rollout of its new ERP system caused the Company to lose $135 million in sales during the third quarter of fiscal 2024, and necessitated a $330 million reduction in its sales guidance for the full fiscal year. On this news, the price of Lamb Weston stock fell by $19.59 per share.
What Now: You may be eligible to participate in the class action against Lamb Weston Holdings, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by August 12, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.