NEW YORK, Oct. 08, 2015 (GLOBE NEWSWIRE) — The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of El Pollo Loco Holdings, Inc. (NASDAQ:LOCO) between May 15, 2015 and August 13, 2015.
You are hereby notified that a class action has commenced in the USDC for the Central District of California. To learn more go to:
or contact Joseph E. Levi, Esq. via email at firstname.lastname@example.org or by telephone at (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that during the Class Period, defendants made false and misleading statements and/or failed to disclose adverse information about El Pollo Loco’s business and prospects, including that traffic at El Pollo Loco stores had declined substantially due to the removal of value items from the restaurants’ menu boards, and that as a result, comparable store sales were not growing at 3%, much less the 3% to 5% the defendants had led investors to believe they would grow in the second quarter of 2015.
On August 13, 2015, El Pollo Loco issued a release announcing its second quarter 2015 results, disclosing that system-wide comparable restaurant sales had grown only 1.3% and reporting sales of just $89.5 million. Shares fell from a close of $18.36 per share on August 13, 2015, to a close of just $14.56 the following day.
If you suffered a loss in El Pollo Loco you have until October 23, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you be a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com