Legal Investigation Launched: Johnson Fistel Scrutinizes Starbucks (SBUX) Directors Over Possible Fiduciary Duty Breaches in Business Outlook and Growth Disclosure Statements

The investigation follows the filing of a securities class action concerning purchases of Starbucks securities between November 2, 2023 and April 30, 2024 (the "Class Period").

What Should Starbucks Shareholders Do?

If you are a current Starbucks shareholder and have continuously held your shares before November 2, 2023 and continue to hold your shares, you may have standing to pursue derivative claims on behalf of the Company.
For more information, please visit our website at:
https://www.johnsonfistel.com/investigations/starbucks-corporation/

Shareholders may contact lead analyst Jim Baker at jimb@johnsonfistel.com or 619-814-4471.

Background of the Investigation

According to the securities class action complaint, Starbucks and certain senior executives are alleged to have made materially false and/or misleading statements and failed to disclose material adverse facts regarding, among other things:

• The reliability of Starbucks' projected revenue outlook and anticipated growth;
• The effectiveness of the Company's "Reinvention" platform in driving global business performance;
• The extent to which seasonality, macroeconomic uncertainty, and competitive pressures-particularly in China-posed risks to Starbucks' business;
• The likelihood that Starbucks would need to revise its fiscal 2024 guidance.

On April 30, 2024, after market close, Starbucks issued a press release announcing disappointing second-quarter fiscal 2024 results and lowered its full-year guidance. On this news, Starbucks' stock price fell from $88.49 per share on April 30, 2024, to $74.44 per share on May 1, 2024, representing a decline of more than 15% in a single trading day, allegedly injuring investors.

Johnson Fistel's investigation is focused on whether Starbucks' board of directors and senior management caused or allowed this alleged misconduct, failed to implement adequate disclosure and risk-management controls, and exposed the Company to significant financial and reputational harm.

About Johnson Fistel, PLLP | Top Law Firm, Securities Fraud, Investors Rights

Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. We also extend our services to foreign investors who have purchased securities on U.S. exchanges.
For more information, please visit www.johnsonfistel.com.

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