Investor Alert: Kaplan Fox Investigates Potential Securities Fraud At Restaurant Brands
NEW YORK, Jan. 19, 2021 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Restaurant Brands International, Inc. ("Restaurant Brands" or the "Company") (NYSE: QSR). A complaint has been filed on behalf of investors who purchased Restaurant Brands common stock between April 29, 2019 and October 28, 2019 (the "Class Period").
On April 29, 2019 Restaurant Brands filed its financial results for the quarter ended March 31, 2019, including a 0.5% system-wide year-over-year sales growth for Tim Hortons. The Company also assured investors that its "Winning Together Plan" and "Tims Rewards" loyalty program were achieving positive results.
On August 12 and September 5, 2019, the Company completed stock offerings at $72.50 per share and $75.10 per share, allegedly resulting in proceeds of about $3 billion to insiders.
On October 29, 2019, the truth about the Company's Winning Together Plan and Tims Rewards loyalty program was allegedly revealed when the Company announced disappointing financial results for the quarter ended September 30, 2019, including a 0.1% system-wide year-over-year sales decline for Tim Hortons. Following this news, Restaurant Brands common stock declined $2.59 per share, about 4%, to close at $65.86 on October 28, 2019.
If you are a member of the proposed Class, you may move the court no later than February 19, 2021 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing [email protected] or by calling (646) 315-9003
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, your rights, or your interests, please contact:
Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: [email protected]
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: [email protected]
SOURCE Kaplan Fox & Kilsheimer LLP
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