Investors Say Fairway Group Misstated Finances Amid IPO

Law360, New York (March 19, 2014, 6:06 PM EDT) -- Investors in private equity-backed Fairway Group Holdings Corp. on Friday launched a shareholder class action against the grocery chain in New York federal court, saying the company made false statements about its financial condition before and after its $159 million initial public offering.

In its registration statement issued in connection with its April IPO, Fairway projected “solidly positive same-store growth" and 25 percent growth over all for the third quarter of 2014, but at the time, the company was experiencing decreased same-store sales, increased direct store...
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Case Information

Case Title

Dweck et al v. Fairway Group Holdings Corp. et al


Case Number

1:14-cv-01786

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Lewis A. Kaplan

Date Filed

March 14, 2014

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