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SEC Filings

10-K
CHIPOTLE MEXICAN GRILL INC filed this Form 10-K on 02/08/2018
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On July 28, 2017, Mark Blau filed a shareholder derivative action in the U.S. District Court for the District of Colorado, making allegations similar to those of the several shareholder derivative actions described above, and adding further allegations related to the Board’s investigation of the foregoing matters, as well as customer illnesses and operational issues associated with two Chipotle restaurants in July 2017.  The action purports to state claims for damages on our behalf, and is based on statements in our SEC filings and related public disclosures, as well as media reports and company records.  On February 2, 2018, the Court stayed this matter pending the outcome of the March 15, 2018 settlement approval hearing in the consolidated Gubricky actions described above.   

Shareholder Class Actions   

On January 8, 2016, Susie Ong filed a complaint in the U.S. District Court for the Southern District of New York on behalf of a purported class of purchasers of shares of our common stock between February 4, 2015 and January 5, 2016.  The complaint purports to state claims against us, each of the co-Chief Executive Officers serving during the claimed class period and the Chief Financial Officer under Sections 10(b) and 20(a) of the Exchange Act and related rules, based on our alleged failure during the claimed class period to disclose material information about our quality controls and safeguards in relation to consumer and employee health. The complaint asserts that those failures and related public statements were false and misleading and that, as a result, the market price of our stock was artificially inflated during the claimed class period. The complaint seeks damages on behalf of the purported class in an unspecified amount, interest, and an award of reasonable attorneys’ fees, expert fees and other costs.  On March 8, 2017, the court granted our motion to dismiss the complaint, with leave to amend.  The plaintiff filed an amended complaint on April 7, 2017. On June 7, 2017, Chipotle filed a motion to dismiss the amended complaint, and briefing on that motion was completed on September 6, 2017.   Additionally, on July 20, 2017, Elizabeth Kelley filed a complaint in the U.S. District Court for the District of Colorado on behalf of a purported class of purchasers of shares of our common stock between February 5, 2016 and July 19, 2017, with claims and factual allegations similar to the Ong complaint, based primarily on media reports regarding illnesses associated with a Chipotle restaurant in Sterling, Virginia.  A response to the amended complaint in that matter is due on February 12, 2018.  We intend to defend these cases vigorously, but it is not possible at this time to reasonably estimate the outcome of or any potential liability from the cases.

Miscellaneous 

We are involved in various other claims and legal actions that arise in the ordinary course of business. We do not believe that the ultimate resolution of these actions will have a material adverse effect on our financial position, results of operations, liquidity or capital resources. However, a significant increase in the number of these claims, or one or more successful claims under which we incur greater liabilities than we currently anticipate, could materially and adversely affect our business, financial condition, results of operations and cash flows.  

11. Quarterly Financial Data (Unaudited)

Summarized unaudited quarterly financial data:







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

2017



 

 

 

 

    March 31    

 

    June 30    

 

September 30

 

December 31

Revenue

 

 

 

 

$

1,068,829 

 

$

1,169,409 

 

$

1,128,074 

 

$

1,110,100 

Operating income

 

 

 

 

$

73,173 

 

$

106,725 

 

$

30,867 

 

$

60,029 

Net income

 

 

 

 

$

46,120 

 

$

66,730 

 

$

19,610 

 

$

43,793 

Basic earnings per share

 

 

 

 

$

1.60 

 

$

2.33 

 

$

0.69 

 

$

1.56 

Diluted earnings per share

 

 

 

 

$

1.60 

 

$

2.32 

 

$

0.69 

 

$

1.55 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

2016



 

 

 

 

    March 31    

 

    June 30    

 

September 30

 

December 31

Revenue

 

 

 

 

$

834,459 

 

$

998,383 

 

$

1,036,982 

 

$

1,034,560 

Operating income (loss)

 

 

 

 

$

(46,604)

 

$

40,895 

 

$

9,726 

 

$

30,550 

Net income (loss)

 

 

 

 

$

(26,432)

 

$

25,596 

 

$

7,799 

 

$

15,975 

Basic earnings (loss) per share

 

 

 

 

$

(0.88)

 

$

0.88 

 

$

0.27 

 

$

0.55 

Diluted earnings (loss) per share

 

 

 

 

$

(0.88)

 

$

0.87 

 

$

0.27 

 

$

0.55 

 

 

61

 


 

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