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NEW YORK, NY / ACCESSWIRE / January 24, 2021 / Pomerantz LLP announces that a class action lawsuit has been filed against Restaurant Brands International Inc. ("Restaurant Brands" or the "Company") (NYSE:QSR) and certain of its officers. The class action, filed in the United States District Court for the Central District of California, and docketed under 21-cv-00148, is on behalf of a class consisting of all persons and entities other than Defendants who purchased or otherwise acquired Restaurant Brands securities between April 29, 2019 and October 28, 2019, inclusive (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934 (the "Exchange Act").
If you are a shareholder who purchased Restaurant Brands securities during the Class Period, you have until February 19, 2021, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
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Restaurant Brands 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 as of December 31, 2019.
On April 24, 2018, Restaurant Brands announced a new strategy designed to improve performance within the Company's Tim Hortons brand. Specifically, the "Winning Together Plan" would focus on three key pillars: restaurant experience; product excellence; and brand communications.
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 U.S.
Throughout the Class Period, Defendants repeatedly touted the implementation and execution of the Company's Winning Together Plan and Tims Rewards loyalty program. On the heels of the Company 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 approximately $3 billion to insiders.