Sign In
Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
LW.US
id: 1256

Lamb Weston (LW) ERP System Issues Case

D. Idaho
Court
1:24-cv-00282
Case number
25 Jul 2023
Class period Start
03 Apr 2024
Class period End
12 Aug 2024
Lead Plaintiff motion deadline
  • $LW stockholders filed a claim against Lamb Weston for hiding problems with their new ERP system.
  • On April 4, 2024, $LW dropped by 19.4%, losing $2.83B in shareholder value after the financial results were released.
  • Lamb Weston investors can join this case to be notified about potential recovery.
Case Details

In July 2023, Lamb Weston announced the completion of a new software system called the Enterprise Resource Planning (ERP) system.

Management highlighted that the ERP system would "strengthen its operational infrastructure" by enhancing efficiency and reducing costs.

However, on April 4, 2024, Lamb Weston faced major difficulties with the ERP system. It supposedly mismanaged inventory and orders, causing shipment delays and cancelled orders.

These problems led to a loss of $135M in sales for the Q3 of fiscal year 2024 and a reduction of $330M in their sales forecast for the full fiscal year.

On April 4, 2024, as a result of this news, $LW dropped by 19.4%, losing $2.83B in shareholder value.

Based on these events, $LW stockholder filed a claim against Lamb Weston and its leaders, accusing them of the following:
  • Lamb Weston overstated their new ERP system prospects.
  • Problems with the system caused them to lose $135M in sales and cut $330M from their sales forecast.
Considering all the representations, investors have reasons to suspect that Lamb Weston hid the significant problems with the ERP system.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements
Financial Misrepresentation
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
04 April 2024
Filing date
13 June 2024
Lead Plaintiff Deadline
12 August 2024
Judge
Candy W Dale
Collecting participants…

Lamb Weston Holdings Inc

Lamb Weston Holdings, Inc. produces, distributes, and markets frozen potato products worldwide. The company operates through four segments: Global, Foodservice, Retail, and Other. It offers frozen ...

    Ticker
    LW.US
    ISIN
    US5132721045
    CIK
    1679273
    Sector
    Consumer Defensive
    Industry
    Packaged Foods
    Country
    USA
    Address
    599 South Rivershore Lane, Eagle, ID, United States, 83616