Kuehn Law Encourages Investors of Starbucks Corp to Contact Law Firm

According to a federal securities lawsuit, Starbucks (Starbucks Aktie) insiders caused the company to misrepresent or fail to disclose material information concerning Starbucks' fiscal year revenue for 2023 and expected guidance for the fiscal year 2024. On April 30, 2024, the company announced disappointing Q2 Fiscal 2024 results, stating that store sales declined globally 4%, with traffic falling 7%, and further disclosed a 2% decline in new revenues to $8.6 billion. Starbucks also lowered their guidance for FY 2024, citing global declines in store sales, net revenues, and both GAAP and non-GAAP earnings. The Company attributed its results and lowered guidance on the issues it was facing in China, with CFO Ruggeri stating, in reference to the Chinese market, "we still see the effects of a slower-than-expected recovery, and we see fierce competition among value players in the market." On this news, Starbucks' stock price fell to $74.44 per share on May 1, 2024, a decline of over 15% in the span of just a single day.

If you currently own SBUX and purchased prior to November 2, 2023 please contact Justin Kuehn, Esq. here, by email at justin@kuehn.law or call (833) 672-0814. Kuehn Law pays all case costs and does not charge its investor clients. Shareholders should contact the firm immediately as there may be limited time to enforce your rights.

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