Morgan & Morgan Announces That a Class Action Lawsuit Has Been Filed Against El Pollo Loco Holdings, Inc. -- LOCO


NEW YORK, Aug. 31, 2015 (GLOBE NEWSWIRE) -- Morgan & Morgan announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of purchasers of El Pollo Loco Holdings, Inc. ("El Pollo Loco" or the "Company") (NASDAQ:LOCO) common stock from May 15, 2015 through August 13, 2015, inclusive (the "Class Period").

If you purchased El Pollo Loco common stock during the Class Period, you may, no later than October 23, 2015, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a representative party that acts on behalf of all class members in directing the litigation. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

If you want more information about the El Pollo Loco Securities Class Action, contact Morgan & Morgan at 1(800) 732-5200 or email info@morgansecuritieslaw.com.

The Complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose information about El Pollo Loco's business and prospects, including that traffic at El Pollo Loco stores had declined substantially due to the removal of value items from the restaurants' menu boards, and that as a result, comparable store sales were not growing at 3%, much less the 3% to 5% the defendants had led investors to believe they would grow in the second quarter of 2015.

On August 13, 2015, El Pollo Loco issued a release announcing its second quarter 2015 results, disclosing that system-wide comparable restaurant sales had grown only 1.3% and reporting sales of just $89.5 million. Following this news, the price of El Pollo Loco's shares declined by 20% from its closing price of $18.36 per share on August 13, 2015, to $14.56 per share on August 14, 2015.

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