| COMPANY |
Costco Wholesale Corporation |
| COURT |
United States District Court for the Western District of Washington |
| CASE NUMBER |
18-cv-01611 |
| JUDGE |
The Hon. Thomas Samuel Zilly |
| CLASS PERIOD |
June 7, 2018 - October 25, 2018 |
| SECURITY TYPE |
All Securities |
Case Background:
On November 05, 2018, the initial complaint in this securities class action was filed against Costco Wholesale Corporation (“Costco” or the “Company”), and certain of Costco’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Ac
The Complaint alleges that Costco misrepresented and failed to disclose adverse facts pertaining to the Company’s business, operations, and prospects, which were known to defendants or recklessly disregarded by them. Specifically, defendants failed to disclose that: (i) Costco lacked effective internal control over financial reporting; (ii) as a result of the foregoing, defendants’ statements about Costco’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
This is a securities class action on behalf of all persons and entities that purchased Costco securities during the period from June 7, 2018 through October 25, 2018.
Current Status of Case:
On February 24, 2020, Plaintiff filed a second consolidated amended complaint (the “Amended Complaint”). Defendants filed a Motion to Dismiss the Amended Complaint on April 23, 2020. On August 19, 2020, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff filed a Notice appealing the Court's Dismissal Order on September 17, 2020. On July 20, 2021, the United States Court of Appeals for the Ninth Circuit affirmed the District Court’s dismissal of the action. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.