United Natural Foods, Inc. (NYSE: UNFI)

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into United Natural Foods, Inc. (“United Natural” or the “Company”) (NYSE: UNFI).

In March 2023, the Company disclosed year-over-year declines of $6 million in gross profit and over 71% in net income and earnings per diluted share for its fiscal 2023 second quarter, despite a 6% increase in net sales, and slashed its guidance for adjusted EBITDA guidance by approximately $115 million, or approximately 13.3% due primarily to “lower procurement and inventory gains, resulting from, among several things, supply chain volatility, and a deceleration in the sequential rate of inflation.”

Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws. Recently, the court presiding over that case denied the Company’s motion to dismiss in part, allowing the case to move forward.

KSF’s investigation is focusing on whether United Natural’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws. 

If you have information that would assist KSF in its investigation, or have been a long-term holder of United Natural shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or fill out the form on this page.