U.S. Markets closed
  • S&P 500

    3,768.25
    -27.29 (-0.72%)
     
  • Dow 30

    30,814.26
    -177.24 (-0.57%)
     
  • Nasdaq

    12,998.50
    -114.10 (-0.87%)
     
  • Russell 2000

    2,123.20
    -32.15 (-1.49%)
     
  • Crude Oil

    52.17
    -0.19 (-0.36%)
     
  • Gold

    1,828.10
    -1.80 (-0.10%)
     
  • Silver

    24.86
    -0.01 (-0.02%)
     
  • EUR/USD

    1.2088
    -0.0076 (-0.6286%)
     
  • 10-Yr Bond

    1.0970
    -0.0320 (-2.83%)
     
  • Vix

    24.34
    +1.09 (+4.69%)
     
  • GBP/USD

    1.3600
    -0.0040 (-0.2938%)
     
  • USD/JPY

    103.8180
    -0.0240 (-0.0231%)
     
  • BTC-USD

    36,202.42
    +1,201.75 (+3.43%)
     
  • CMC Crypto 200

    701.93
    -33.21 (-4.52%)
     
  • FTSE 100

    6,735.71
    -66.25 (-0.97%)
     
  • Nikkei 225

    28,519.18
    -179.12 (-0.62%)
     

Portnoy Law: Lawsuit Filed On Behalf of Restaurant Brands International, Inc. Investors

Portnoy Law
·2 min read

Click here to join the case

LOS ANGELES, Jan. 04, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Restaurant Brands, International, Inc. ("Restaurant Brands" or "the Company") (NYSE: QSR) investors that acquired securities between April 29, 2019 and October 28, 2019.

Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.

On October 28, 2019, the Company announced disappointing financial results for the third quarter ending September 30, 2019. Specifically, Restaurant Brands and its executives acknowledged that “results at Tim Hortons were not where we want them to be with global comparable sales dipping into negative territory” and admitted that “discounting [associated with Tims Rewards] is slightly more than offsetting the traffic levels,” leading to “softness in sales.”

On this news, the Company’s stock price fell $2.59, or 3.8%, to close at $65.86 per share on October 28, 2019, thereby injuring investors.

The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Restaurant Brands' “Winning Together Plan” was failing to generate substantial, sustainable improvement within the Tim Hortons brand; (2) the “Tims Rewards” loyalty program was not generating sustainable revenue growth as increased customer traffic was not offsetting promotional discounting; and (3) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

Attorney Advertising