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Shareholder Class Action Filed Against Darden Restaurants, Inc. by the Law Firm of Schiffrin Barroway Topaz & Kessler, LLP
RADNOR, Pa., April 4, 2008 /PRNewswire/ -- The following statement was issued today by the law firm of Schiffrin Barroway Topaz & Kessler, LLP:

Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Middle District of Florida, Orlando Division, on behalf of all purchasers of securities of Darden Restaurants, Inc. (NYSE: DRI) ('Darden' or the 'Company') between June 19, 2007 and December 18, 2007, inclusive (the 'Class Period').

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 Schiffrin Barroway Topaz & Kessler, LLP (Darren J. Check, Esq. or Richard A. Maniskas, Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at [e-mail].

The Complaint charges Darden and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Darden owns and operates nearly 1,400 Red Lobster, Olive Garden, Bahama Breeze, Smokey Bones, Capital Grille, Longhorn Steakhouse and Seasons 52 restaurants.

The Complaint alleges that, throughout the Class Period, defendants failed to disclose material adverse facts about the Company's financial well-being, and prospects. Specifically, defendants failed to disclose or indicate the following: (1) that the Company's food costs were rising at a higher rate than the Company admitted; (2) that same-store sales at the Company's restaurants were experiencing negative trends; (3) that the Company's restaurants were underperforming; (4) that the Company lacked adequate internal and financial controls; and (4) that, as a result of the foregoing, the Company's statements about its financial well-being and future business prospects were lacking in any reasonable basis when made.

On December 18, 2007, the Company shocked investors when it announced that its earnings for the quarter fell below expectations. Further, the Company announced that it expected diluted net earnings per share in 2008 to be 2% to 4%, in stark contrast to the 10% to 12% projection the Company gave in August 2007. Upon the release of this news, the Company's shares declined $7.74 per share, or 21.3 percent, to close on December 19, 2007 at $28.60 per share, on unusually heavy trading volume.

Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin Barroway Topaz & Kessler which prosecutes class actions in both state and federal courts throughout the country. Schiffrin Barroway Topaz & Kessler is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world.

For more information about Schiffrin Barroway Topaz & Kessler or to sign up to participate in this action online, please visit http://www.sbtklaw.com

If you are a member of the class described above, you may, not later than May 12, 2008, move the Court to serve as lead plaintiff of the class, if you so choose. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. 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.

CONTACT: Schiffrin Barroway Topaz & Kessler, LLP
Darren J. Check, Esq.
Richard A. Maniskas, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at [e-mail]

SOURCE Schiffrin Barroway Topaz & Kessler, LLP



Source: PR Newswire (April 4, 2008 - 6:30 PM EDT