SAN DIEGO, CA / ACCESSWIRE / August 23, 2017 / The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in NYSE: DG shares against Dollar General Corp. over alleged Securities Laws violations.

Investors, who purchased shares of Dollar General Corp. (NYSE: DG), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On January 18, 2017, a lawsuit was filed against Dollar General Corp. over alleged securities laws violations. The plaintiff claimed that the defendants made false and/or misleading statements and/or failed to disclose that the announced limitations on Supplemental Nutrition Assistance Program ("SNAP") benefits would have a material impact on the Company's financial performance because 56% of Dollar General's stores are located in states that re-implemented time limitations on SNAP benefits in 2016, and therefore the impact of SNAP reductions would be disproportionate to the percentage of the Company's overall sales comprised of SNAP payments.

The plaintiff alleged that these statements were material to investors because they were made in response to concerns by analysts that SNAP benefits were going to be reduced in a number of states - which potentially would have impacted Dollar General's sales to the extent its business operations were exposed to SNAP changes.

The plaintiff claimed that the truth about the impact that SNAP reductions were having on Dollar General Corp.'s business began to surface on August 25, 2016, when Dollar General Corp. announced disappointing second quarter 2016 financial and operational results.

The plaintiff alleged that previously predicted annual same-store sales growth of 2-4%, and most analysts expected a quarterly increase in same-store sales of nearly 1%, but reported a reduction in same-store sales in its financial results for its fiscal 2016 third quarter ended October 28, 2016.

The plaintiff alleged that Dollar General Corp. again attributed its poor quarterly performance, in large part, to reductions in SNAP benefits, and finally admitted the true impact that SNAP reductions were having on its sales, stating that the benefit reductions "affect[] about 56% of our store base...And those states that have had the reduction or elimination, they are approximately 100-basis-point worse in comp. That gives you a real good idea of how impactful those SNAP benefits reductions have been."

On June 26, 2017, an amended complaint was filed.

Those who purchased Dollar General Corp. (NYSE: DG) shares should contact the Shareholders Foundation, Inc.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

SOURCE: Shareholders Foundation, Inc.