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Restaurant Brands International Inc. (NYSE: QSR) Investor Securities Class Action Lawsuit 12/21/2020

  • If you purchased shares of Restaurant Brands International Inc. (NYSE: QSR), you may have certain options. Please contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
Restaurant Brands International Inc.
Security
NYSE: QSR

Case Name
Restaurant Brands International Shareholder Class Action Lawsuit 12/21/2020
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

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Summary

April 26, 2021 - The case was voluntarily dismissed.

December 21, 2020 - An investor in shares of Restaurant Brands International Inc. (NYSE: QSR) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Restaurant Brands International Inc. in connection with certain allegedly false and misleading statements made between April 29, 2019, and October 28, 2019. Restaurant Brands International Inc. conducted secondary public offerings conducted in August and September 2019. Shares of Restaurant Brands International Inc. (NYSE: QSR) declined from $79.46 per share in August 2019, respectively $71.90 per share in September 2019, to as low as $25.08 per share on March 18, 2020.

According to the complaint the plaintiff alleges on behalf of purchasers of Restaurant Brands International Inc. (NYSE: QSR) common shares between April 29, 2019, and October 28, 2019, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between April 29, 2019, and October 28, 2019, the defendants misrepresented and/or failed to disclose that Restaurant Brands’ Winning Together Plan was failing to generate substantial, sustainable improvement within the Tim Hortons brand, that the Tims Rewards loyalty program was not generating sustainable revenue growth as increased customer traffic was not offsetting promotional discounting, and that as a result, the defendants’ statements about Restaurant Brands’ business, operations, and prospects lacked a reasonable basis.