Public Employees' Retirement System of Mississippi v. Sprouts Farmers Market Inc.

Updated: January 30, 2019

Status: Pending Court Approval

On March 4, 2016, a class action complaint (the “Complaint”) was filed in the Court on behalf of investors in the Company, alleging violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 (“Securities Act”). The Action involves allegations that Defendants violated certain federal securities laws by making misrepresentations or omissions of material fact in the Registration Statement filed with the U.S. Securities and Exchange Commission in connection with the Company’s secondary public offering of 15,847,800 shares of Sprouts common stock that occurred on or about March 5, 2015 (the Offering).

The Parties reached an agreement in principle to settle the Action on September 5, 2018 and executed the Stipulation and Agreement of Settlement on December 27, 2018.

The Court in charge of the Action is the Arizona Superior Court, Maricopa County, and the case is known as Public Employees’ Retirement System of Mississippi, et al. v. Sprouts Farmers Market, Inc., et al., No. CV2016-050480. The Action is assigned to the Honorable Roger Brodman.Labaton Sucharow represents Public Employees’ Retirement System of Mississippi. The defendants are Sprouts Farmers Market, Inc., its former CEO, current CEO, current CFO, Controller and Vice President, Chairman of the board, its co-founder, three additional directors, two investment funds that sold their Sprouts position in the offering, and the two underwriters of the offering.

Submit Claim Form

If you purchased or otherwise acquired the common stock of Sprouts Farmers Market, Inc. in or traceable to the Company’s secondary public offering of 15,847,800 shares that occurred on or about March 5, 2015, you may be entitled to a payment from a class action settlement. To be eligible for a payment, you must submit a Claim Form to the Claims Administrator so that it is postmarked or received no later than June 25, 2019.

Settlement Hearing

A Settlement Hearing will be held on May 31, 2019 before the Honorable Roger Brodman at 9:00 am, in Courtroom 413 at the Superior Court of the State of Arizona, Maricopa County, East Court Building, Fourth Floor, 101 W. Jefferson Street, Phoenix, Arizona, 85003.

If you have questions about the settlement, please contact Labaton Sucharow at settlementquestions@labaton.com or (888) 219-6877, or contact the Claims Administrator, A.B. Data, Ltd., at (866) 963-9981.

Information about the settlement can also be found at  www.SproutsSecuritiesLitigation.com.