A lawsuit was filed on behalf of investors in United Natural Foods, Inc. (NYSE:UNFI) shares over alleged securities laws violations.

San Diego, CA -- (SBWire) -- 04/11/2023 --An investor, who purchased shares of United Natural Foods, Inc. (NYSE: UNFI), filed a lawsuit over alleged violations of Federal Securities Laws by United Natural Foods, Inc.

Investors who purchased shares of United Natural Foods, Inc. (NYSE: UNFI) have certain options and for certain investors are short and strict deadlines running. Deadline: May 19, 2023. NYSE: UNFI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Providence RI based United Natural Foods, Inc., together with its subsidiaries, distributes natural, organic, specialty, produce, and conventional grocery and non-food products in the United States and Canada. On March 8, 2023, before the market opened, United Natural Foods, Inc. announced its second quarter 2023 financial results, revealing a $6 million decline in gross profit, despite a 6% increase in net sales. United Natural Foods, Inc. stated that its profits "were challenged as we did not repeat the significant level of procurement gains from rapidly accelerating inflation and inventory gains, due to supply chain volatility, that we experienced in the second quarter of last year." Shares of United Natural Foods, Inc. (NYSE: UNFI) declined to as low as $22.07 per share on March 24, 2023.

The plaintiff claims that between March 10, 2021 and March 7, 2023, the Defendants failed to disclose to investors that, despite its cost saving Value Path initiative, United Natural Foods had not invested in improving its data management and related infrastructure, that, as a result, the Company could not respond adequately to cost changes, such as inflationary pressure, that, as a result, the Company could not appreciate the benefits of procurement gains and inventory gains achieved during fiscal 2022, that, as a result of the foregoing, the Company's profitability would be materially adversely impacted, and that as a result of the foregoing, Defendant's positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of United Natural Foods, Inc. (NYSE: UNFI) 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 The Shareholders Foundation
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.