Black Rock Coffee Bar, Inc. investors who bought securities traceable to the company’s September 12, 2025 IPO through May 12, 2026 have until Aug. 17, 2026 to seek appointment as lead plaintiff in a putative securities class action, according to releases from Hagens Berman and Glancy Prongay Wolke & Rotter LLP. The complaint alleges Black Rock Coffee and senior executives misled investors in IPO materials and later statements about its expansion strategy, including whether new store openings would cause limited sales transfer, or cannibalization, from existing locations. After the market closed on May 12, 2026, the company reported first-quarter 2026 same-store growth of 5.2%, down from 9.2% a year earlier, and revenue of $55.45 million that missed consensus estimates; on the earnings call, CEO Mark Davis said growing store density and opening stores near high-volume locations could shift demand and that sales transfer had affected same-store sales in the quarter. Black Rock shares fell $3.32, or 30.3%, to $7.65 on May 13, 2026, and had traded as low as $7.23 by the time the action began, more than 63% below the $20 IPO price.