Chipotle Served With New Subpoena as Criminal Probe Expands



Chipotle Served With New Subpoena as Criminal Probe Expands

Chipotle Mexican Grill Inc. received a subpoena expanding the scope of a federal criminal probe into a norovirus outbreak in California, renewing concerns that its food-safety crisis isn’t over.

The subpoena was served by the U.S. Attorney’s office for the Central District of California on Jan. 28, the Denver-based company said in a statement Tuesday. It requires Chipotle to produce documents dating back to Jan. 1, 2013, deepening an investigation that the company announced in January. The burrito chain, which said it doesn’t yet know much about the investigation, also gave a dim view of 2016 in its latest earnings report, saying it would be a “very difficult year.”

Chipotle also said that earnings will be around the break-even point in the first quarter. Analysts had previously estimated $1.95 a share, according to data compiled by Bloomberg. The forecast sent the shares down as much as 8.6 percent to $435 in late trading.

Read the full story