Portillo’s Inc. Class Action Lawsuit - PTLO
Case Summary
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The Portillo’s class action lawsuit seeks to represent purchasers of Portillo’s Inc. (NASDAQ: PTLO) common stock between September 19, 2023 and May 4, 2026, inclusive (the “Class Period”). Captioned Wassel v. Portillo’s Inc., No. 26-cv-14032 (N.D. Ill.), the Portillo’s class action lawsuit charges Portillo’s and Portillo’s’ former CEO with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Portillo’s class action lawsuit, please provide your information in the form on this page. You can also contact attorneys Ken Dolitsky or Michael Albert of Robbins Geller by calling 800/851-7783 or via e-mail at info@rgrdlaw.com.
CASE ALLEGATIONS: Portillo’s owns and operates fast-casual restaurants in the United States.
The Portillo’s class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Portillo’s’ initial opening of the restaurant in Colony, Texas, did not go smoothly and Portillo’s did not pre-market its new Texas restaurants thoroughly; (ii) Portillo’s was not disciplined about its new store openings; (iii) Portillo’s new Texas restaurants were faring poorly, as it was not disciplined about the opening of new locations; (iv) Portillo’s would turn to loyalty programs and other discounts to drive sales; (v) additional store openings did not lead to increased brand awareness, or such brand awareness did not result in an increase in sales; and (v) based on the foregoing, defendants’ statements concerning Portillo’s growth prospects were false and misleading.
On August 5, 2025, Portillo’s cut its 2025 revenue growth guidance roughly in half along with a drastic reduction in adjusted earnings before interest, taxes, depreciation, and amortization (“EBITDA”) growth. On this news, the price of Portillo’s stock fell more than 23%.
Then, on May 5, 2026, Portillo’s announced disappointing financial results that included: (i) a same-restaurant sales decrease of 0.1%; (ii) a decrease in operating income of $5.9 million, to just $4.5 million from $10.4 million; (iii) a net loss of $0.5 million; (iv) a restaurant-level adjusted EBITDA of $34.8 million, a decrease of $1.8 million; and (v) adjusted EBITDA of $18.5 million, a decrease of $2.8 million. On this news, the price of Portillo’s stock fell more than 31% over several trading days.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Portillo’s common stock during the Class Period to seek appointment as lead plaintiff in the Portillo’s class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Portillo’s class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Portillo’s class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Portillo’s class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder rights litigation. Our Firm ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report, recovering more than $916 million for investors in 2025. This marks our fourth #1 ranking in the past five years. And in those five years alone, Robbins Geller recovered $8.4 billion for investors – $3.4 billion more than any other law firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig.