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Kessler Topaz Meltzer & Check, LLP Is Appointed Lead Counsel in Securities Fraud Class Action Against Restaurant Brands International Inc. (NYSE: QSR)

The law firm of Kessler Topaz Meltzer & Check, LLP (“Kessler Topaz”) announces that the firm has been appointed Lead Counsel in a securities fraud class action lawsuit pending against Restaurant Brands International Inc. (“Restaurant Brands”). The action, captioned Graney v. Restaurant Brands International Inc., et al., Case No. 1:21-cv-20508-KMM (the “Action”), is pending in the United States District Court for the Southern District of Florida and is brought on behalf of Restaurant Brands investors who purchased or acquired Restaurant Brands common stock between April 29, 2019 and October 28, 2019.

Investors who purchased or acquired Restaurant Brands common stock (NYSE: QSR) between April 29, 2019 and October 28, 2019 are encouraged to contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1413 or Adrienne Bell, Esq. (484) 270-1435 or toll free at (844) 887-9500 or via e-mail at info@ktmc.com. For additional information about this Action please click: https://www.ktmc.com/restaurant-brands-international-inc-securities-class-action?utm_source=PR&utm_medium=link&utm_campaign=restaurant_brands

Restaurant Brands is a Canadian corporation and headquartered in Toronto, Ontario, Canada. It is one of the world’s largest restaurant chains with over 27,000 Tim Hortons, Burger King, and Popeyes restaurants in more than 100 countries and U.S. territories. On April 24, 2018, Restaurant Brands announced a new strategy designed to improve performance within its Tim Hortons brand. Specifically, the “Winning Together Plan” would focus on three key pillars: restaurant experience; product excellence; and brand communications. Then, on March 20, 2019, Restaurant Brands announced “Tims Rewards” – a new loyalty program for Tim Hortons customers in Canada. Under the Tims Rewards program, customers would be eligible for a free hot brewed coffee, hot tea, or baked good after every seventh paid visit to a participating Tim Hortons restaurant. On April 10, 2019, Restaurant Brands announced that it was expanding the Tims Rewards program to include customers in the United States.

On the heels of Restaurant Brands touting the benefits of these initiatives, the company completed two stock offerings on or about August 12, 2019, and September 5, 2019, collectively resulting in proceeds of over $3 billion to insiders.

On October 28, 2019, the truth about Restaurant Brands’ execution of its Winning Together Plan and Tims Rewards loyalty program was revealed when the company announced disappointing financial results for the third quarter ended September 30, 2019. Among other things, Restaurant Brands reported a 0.1% system-wide year-over-year sales decline for Tim Hortons—representing a 1.4% same-store sales decline—on system-wide sales of $1.774 billion.

Following this news, the price of Restaurant Brands common stock declined $3.59 per share, or more than 5%, from a close of $68.45 per share on October 25, 2019, to close at $64.86 per share on October 28, 2019.

Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.

Contacts:

Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
(844) 887-9500
info@ktmc.com

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