DNUT ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action on Behalf of Krispy Kreme, Inc. Investors
NEW YORK, NY / ACCESS Newswire / May 19, 2025 /The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Western District of North Carolina on behalf of those who acquired Krispy Kreme, Inc. ("Krispy Kreme" or the "Company") (NASDAQ:DNUT) securities during the period from February 25, 2025, through May 7, 2025 ("the Class Period"). Investors have until July 15, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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On October 26, 2022, Krispy Kreme commenced a small-scale test to offer donuts at McDonald 's Corporation ("McDonald 's") restaurants in Louisville, Kentucky and the surrounding area. On March 26, 2024, Krispy Kreme and McDonald 's announced they would expand their partnership nationwide beginning in the second half of 2024.
On May 8, 2025, before the market opened, Krispy Kreme released its first quarter 2025 financial results, reporting its "net revenue was $375.2 million…a decline of 15.3%" and a "net loss of $33.4 million, compared to prior year net loss of $6.7 million." Additionally, the Company announced that it is "reassessing [its] deployment schedule together with McDonald 's" and "withdrawing [its] prior full year outlook and not updating it" due in part to "uncertainty around the McDonald 's deployment schedule." On this news, the price of Krispy Kreme shares declined by $1.07 per share, or approximately 24%, from $4.33 per share on May 7, 2025, to close at $3.26 on May 8, 2025.
The complaint alleges that defendants, throughout the Class Period, failed to disclose that: (1) that demand for Krispy Kreme products declined materially at McDonald 's locations after the initial marketing launch; (2) that demand at McDonald 's locations was a driver of declining average sales per door per week; (3) that the partnership with McDonald 's was not profitable; (4) that the foregoing posed a substantial risk to maintaining the partnership with McDonalds; and (5) that, as a result, the Company would pause expansion into new McDonald 's locations.
If you purchased or otherwise acquired Krispy Kreme securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs ' law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm 's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP 's website.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com
SOURCE:Kirby McInerney LLP
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