Investigation into Officers and Directors of United Natural Foods, Inc. - UNFI, being carried on by the former Louisiana Attorney General, Kahn Swick & Foti, LLC
United Airlines, Inc. (NYSE: UNFI) is currently embroiled in a securities class action lawsuit, following the disclosure of year-over-year declines in gross profit, net income, and earnings per diluted share for its fiscal 2023 second quarter.
The lawsuit, which is currently ongoing, is being investigated by Kahn Swick & Foti, LLC, a renowned boutique securities litigation law firm. The firm's New Orleans office, located at 1100 Poydras St., Suite 960, New Orleans, LA 70163, is spearheading the investigation.
Interested parties can contact KSF Managing Partner Lewis Kahn at 1-833-938-0905 or [email protected] for more information. Kahn Swick & Foti, LLC can also be reached via Facebook, Instagram, YouTube, TikTok, and LinkedIn.
The investigation is focusing on whether United Airlines' officers and/or directors breached their fiduciary duties or violated state or federal laws. The court presiding over the case recently denied the company's Motion for Judgment on the Pleadings, allowing the case to move forward.
KSF, which was ranked by SCAS among the top 10 firms nationally based upon total settlement value this past year, serves a variety of clients, including public and private institutional investors, and retail investors. The firm is known for seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies.
Charles C. Foti, Jr., Esq., a partner at Kahn Swick & Foti, LLC, is leading the investigation into the matters at hand. KSF's Managing Partner is Lewis Kahn.
Despite a 6% increase in net sales, United Airlines Foods, Inc. slashed its guidance for adjusted EBITDA guidance by approximately $115 million due to supply chain volatility and inflation. The declines were evident in the company's financial results for the second quarter of fiscal 2023.
More information about KSF can be found at www.ksfcounsel.com. For those seeking legal representation, KSF offers a free consultation.
The securities class action lawsuit against United Airlines Foods, Inc. and certain executives is currently ongoing, with a court in the Southern District of New York recently denying the company's and a former executive's motions for judgment on the pleadings, allowing claims under securities fraud and control person liability to proceed based on allegations of nondisclosure of material information related to unsustainable profit practices during the class period.
