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Restaurant Brands International Inc. Securities Class Action

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COMPANY         Restaurant Brands International Inc.
COURT United States District Court for the Southern District of Florida
CASE NUMBER 21-cv-20508
JUDGE K. Michael Moore
CLASS PERIOD April 29, 2019 - October 28, 2019
SECURITY TYPE  Common Stock

Case Background:

The Class Period commences on April 29, 2019, when Restaurant Brands filed its financial results for the first quarter ended March 31, 2019 with the SEC.  Among other things, Restaurant Brands reported 0.5% system-wide year-over-year sales growth for Tim Hortons on system-wide sales of $1.547 billion.  The complaint alleges that, throughout the Class Period, the defendants repeatedly touted the implementation and execution of Restaurant Brands’ Winning Together Plan and Tims Rewards loyalty program.  On the heels of Restaurant Brands touting the benefits of these initiatives, the company completed two stock offerings on or about August 12, 2019, and September 5, 2019, collectively resulting in proceeds of approximately $3 billion to insiders.  

The complaint alleges that, throughout the Class Period, the defendants misrepresented and/or failed to disclose that: (1) Restaurant Brands’ Winning Together Plan was failing to generate substantial, sustainable improvement within the Tim Hortons brand; (2) the Tims Rewards loyalty program was not generating sustainable revenue growth as increased customer traffic was not offsetting promotional discounting; and (3) as a result, the defendants’ statements about Restaurant Brands’ business, operations, and prospects lacked a reasonable basis. 

Current Status of Case:

The Lead Plaintiff voluntarily dismissed 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; 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.

Please complete this form relating to your transactions for Restaurant Brands International Inc. (NYSE: QSR) common stock between April 29, 2019 and October 28, 2019, inclusive (the “Class Period”).

You may also contact Jon Naji, Esq. at (484) 270-1453; or you may submit your information via email at info@ktmc.com, or you may click here to print a PDF of this form.

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