Del Taco Restaurants Inc (NASDAQ:TACO) Investor Investigation Over Potential Securities Laws Violations Announced

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Company Name(s): 
Del Taco Restaurants
Affected Securities: 
NASDAQ: TACO

An investigation on behalf of investors of Del Taco Restaurants Inc (NASDAQ:TACO) shares over potential securities laws violations by Del Taco Restaurants and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Del Taco Restaurants Inc (NASDAQ:TACO) concerning whether a series of statements by Del Taco Restaurants regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Del Taco Restaurants Inc reported that its Total Revenue rose from $424 million for the 52 weeks period that ended on December 29, 2015 to $452.08 million for the 53 weeks period that ended on January 3, 2017 and that its Net Income for those time periods increased from $4.76 million to $20.91 million.

On October 19, 2017, Del Taco Restaurants Inc reported its third quarter financial results and announced that the Company was revising its guidance for 2017, which it had raised the prior quarter.
Shares of Del Taco Restaurants Inc (NASDAQ:TACO) declined on October 20, 2017 to $11.94 per share.