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CHIPOLTE'S OWN STAKEHOLDERS FILE LAWSUIT AGAINST THE COMPANY
Jan. 18, 2016
Nat'l Pork Producers Council reports:
Chipotle, the fast-food firm that has been highly critical of modern agricultural production and that touts its "locally sourced" meat and produce, is subject to a lawsuit filed by its own shareholders.
The shareholders allege in the suit, filed in Manhattan federal court, that Chipotle executives made false or misleading statements about the company's quality control operations and ability to protect the public from food-borne illnesses.
The suit seeks class action status. Chipotle's stock continues to plunge, with shares recently falling to a one-year low of $413.29.
The lawsuit comes on the heels of a federal criminal investigation filed Jan. 5 by the U.S. Food and Drug Administration and a U.S. attorney in California over an August norovirus outbreak at a restaurant in Simi Valley, Calif.
The restaurant chain also has been dealing since October with two multi-state E.coli outbreaks.
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