Krispy Kreme sued over lost sales

Filed under: Business — Tags: — @ May 13, 2004

Krispy KremeKrispy Kreme has been sued over failing to inform investors early enough that the popularity of low-carb diets was hurting its bottem line. As you might remember, Krispy Kreme announced last week that its profits would be lower due to consumers worried about carbohydrates.

bq. Attorneys for New York law firm Milberg Weiss Bershad & Schulman said they are seeking class-action status for the lawsuit, which would allow them to sue on behalf of investors who bought Krispy Kreme stock in the last nine months and who lost money after last week’s profit warning.

Krispy Kreme’s stock (KKD) lost over 6% in trading today. Since the announcement last week KKD has dipped over $10 a share.

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