San Diego, CA -- (SBWire) -- 10/07/2020 --An investigation on was announced over potential breaches of fiduciary duties by certain officers and directors at Domino's Pizza, Inc.
Investors who purchased shares of Domino's Pizza, Inc. (NYSE: DPZ) and currently hold any of those NYSE: DPZ shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Domino's Pizza Inc directors breached their fiduciary duties and caused damage to the company and its shareholders.
Ann Arbor, MI based Domino's Pizza, Inc. reported that its Total Revenue rose from over $2.78 billion in 2017 to over $3.43 billion in 2018 and that its Net Income increased from $277.9 million in 2017 to $361.97 million in 2018.
A former franchisee has reportedly filed two complaints through the Securities and Exchange Commission against Domino's Pizza, Inc. and certain of its executives. The former franchisee reportedly alleges in one complaint that Domino's Pizza mislead investors in its SEC annual filing. More specifically, the former franchisee reportedly claims in one of his complaints that Domino's Pizza Inc falsely specified franchisees were not required to purchase food and supplies from the franchisor, nor was it agreed by a 100 percent unanimous vote by franchisees to increase Domino's advertising fund. The former franchisee reportedly claims that all executives named in the whistleblower complaints have knowledge of the alleged ongoing conduct.
Then on February 19, 2019, the franchisee community website Blue MauMau reported that "[a] corporate insider has filed a well-documented whistleblower report with the U.S. Securities and Exchange Commission (SEC) against Domino's Pizza, its top-level officers, and various staff members." Specifically, Blue MauMau reported that "[t]he crux of the whistleblower report details how Domino's allegedly forced and orchestrated an unapproved advertising and promotion increase to franchisees in order to pay a $1.85 billion Securitization Transaction (March 25, 2007) with a new partially funded $1.67 billion Securitization (March 15, 2012) debt owed to Securitization entities" and "contends that in return, Domino's Pizza's CEO, board members, officers, and employees 'could enjoy higher stock prices and dividends through share repurchases and dividend payouts.'"
Shares of Domino's Pizza, Inc. (NYSE: DPZ) declined from $297.16.51 per share on February 12, 2019 to $245.87 per share on March 1, 2019.
Those who purchased shares of Domino's Pizza, Inc. (NYSE: DPZ) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NYSE:DPZ Investor Alert: Investigation over Possible Wrongdoing at Domino's Pizza, Inc.
An investigation on behalf of investors in Domino’s Pizza, Inc. (NYSE:DPZ) shares over potential wrongdoing at Domino’s Pizza, Inc. was announced.