Panera Cafe Faces Possible Shareholder Class Action

Law360, New York (February 28, 2008, 12:00 AM EST) -- Panera Bread Co., owner of Panera and St. Louis Bread chain restaurants, has been sued by a proposed shareholder class for allegedly failing to disclose several severe threats to its business growth, in violation of federal securities laws.

Sue Trachet filed a proposed class action Tuesday in the U.S. District Court for the Eastern District of Missouri against Panera and three of its top officers.

During the class period of Nov. 1, 2005, through July 26, 2006, Panera and the individual defendants neglected to alert investors...
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