NEW YORK, July 3, 2008 (PRIME NEWSWIRE) -- On July 1, 2008, Chief Judge Patricia C. Fawsett of the United States District Court for the Middle District of Florida appointed Bernstein Liebhard & Lifshitz, LLP (www.bernlieb.com) to act as sole lead counsel in Plumbers & Pipefitters Local 51 Pension Fund v. Darden Restaurants, Inc., Civ. No. 08-388 (M.D. Fla.), a securities class action. The Firm represents the Carpenters Pension Trust Fund for Northern California and the Carpenters Annuity Trust Fund for Northern California, which the Court appointed as lead plaintiffs. The Court ordered the filing of a consolidated class action complaint no later than September 2, 2008.
Darden Restaurants, Inc. (NYSE:DRI) owns and operates nearly 1,400 Red Lobster, Olive Garden, Bahama Breeze, Smokey Bones, Capital Grille, Longhorn Steakhouse, and Seasons 52 restaurants. The lawsuit alleges that the company and certain of its officers and directors issued materially false and misleading statements during the period June 19, 2007 through December 18, 2007 concerning rising food costs, negative trends in same-store sales at company restaurants, the underperformance of company restaurants, and the company's financial well being.
Partner Mel E. Lifshitz (www.bernlieb.com/attorneys/lifshitz.html) stated: "We look forward to working with these Funds as they lead the fight to recover the losses suffered by the company's shareholders."
For more information, or if you have information about the allegations of the lawsuit, contact Mel Lifshitz at lifshitz@bernlieb.com or Steve Peitler at peitler@bernlieb.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primenewswire.com/ca.