Glancy Prongay Wolke & Rotter LLP (“GPWR”), announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, captioned Aiello v. Black Rock Coffee Bar, Inc., et al., Case No. 1:26-cv-05181, on behalf of persons and entities that purchased or otherwise acquired Black Rock Coffee Bar, Inc. (“Black Rock Coffee” or the “Company”) (NASDAQ: BRCB): (a) Class A common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s September 2025 initial public offering (“IPO” or the “Offering”); and/or (b) securities between September 12, 2025 and May 12, 2026, inclusive (the “Class Period”). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”).
Investors are hereby notified that they have 60 days from the date of this notice to move the Court to serve as lead plaintiff in this action.
IF YOU SUFFERED A LOSS ON YOUR BLACK ROCK COFFEE INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS.
What Happened?
On September 12, 2025, Black Rock Coffee conducted its IPO, selling 16,911,764 shares of Class A common stock at a price of $20.00 per share.
On May 12, 2026, after the market closed, Black Rock Coffee released its first quarter 2026 financial results, revealing a same store growth rate of 5.2%, a four-point decline year-over-year compared to a 9.2% rate in same quarter the prior year. The Company further reported revenue of $55.45 million, missing consensus estimates.
In the accompanying earnings call held on the same date, the Company’s Chief Executive Officer, Mark Davis (“Davis”), revealed that as the Company “grow[s] store density in these maturing markets and add[s] new locations around existing high-volume stores,” it will “thoughtfully rebalanc[e] demand across [its] store base.” He continued that “[t]his dynamic can result in some sales transfer where a portion of volume from existing stores shifts to newer locations that have opened in closer proximity.” Davis further confirmed “sales transfer” had “impacted same-store sales in the quarter.”
On this news, Black Rock Coffee’s stock price fell $3.32, or 30.3%, to close at $7.65 per share on May 13, 2026, on unusually heavy trading volume.
By the commencement of this action, Black Rock Coffee stock has traded as low as $7.23 per share, a more than 63% decline from the $20 per share IPO price.
What Is The Lawsuit About?
The complaint filed in this class action alleges that in the Registration Statement and throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) Black Rock Coffee’s new store openings were leading to a cannibalization of its existing services and revenue; (2) Black Rock Coffee overstated the manner in which its expansion strategy was tailored to avoid “sales transfer”; (3) as a result of “sales transfer,” the Company’s financial results were materially impacted; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you purchased or otherwise acquired Black Rock Coffee securities during the Class Period, you may move the Court no later than 60 days from the date of this notice to ask the Court to appoint you as lead plaintiff.
Contact Us To Participate or Learn More:
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Charles Linehan, Esq.
Glancy Prongay Wolke & Rotter LLP
1925 Century Park East, Suite 2100
Los Angeles California 90067
Email: shareholders@glancylaw.com
Telephone: 310-201-9150
Toll-Free: 888-773-9224
Visit our website at www.glancylaw.com.
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If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260618675334/en/
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