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DEADLINE ALERT - Bronstein, Gewirtz & Grossman, LLC Reminds Investors of Class Action Against Dollar General Corporation (DG) and Lead Plaintiff Deadline: March 20, 2017
NEW YORK, NY / ACCESSWIRE / March 16, 2017 / Bronstein, Gewirtz & Grossman, LLC reminds ...
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DEADLINE ALERT - Bronstein, Gewirtz & Grossman, LLC Reminds Investors of Class Action Against Dollar General Corporation (DG) and Lead Plaintiff Deadline: March 20, 2017NEW YORK, NY / ACCESSWIRE / March 16, 2017 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Dollar General Corporation ("Dollar General" or the "Company") (NYSE: DG) and certain of its officers, on behalf of shareholders who purchased Dollar General securities between March 10, 2016, and November 30, 2016, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: http://www.bgandg.com/dg. This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act"). Dollar General is a large discount retailer in the United States. The Company's main customers are low-and fixed-income households, many of which qualify for the federal food stamp benefits program (formally known as the Supplemental Nutrition Assistance Program or "SNAP"). In 1996, SNAP benefits were restricted to unemployed individuals who are not disabled or raising minor children, and to no more than 3 months out of any 26-month phase. Many states waived the benefit limits following the 2008 financial crisis. Since the U.S. economy has gone up, at least 20 states were planning to re-institute the limitations in 2016, which would go into effect in April at the beginning of the second fiscal quarter of 2016. The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and failed to disclose adverse facts about Dollar General's business and operations to the investing public. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that the announced limitations on SNAP benefits would have a material impact on its financial performance, since 56% of Dollar General's stores are located in states that re-implemented time limitations on SNAP benefits in 2016, and therefore the impact of SNAP reductions would be disproportionate to the percentage of the Company's overall sales comprised of SNAP payments. These statements were significant to shareholders because they were made in response to concerns by analysts that SNAP ben...