GeneralBearishFortune Crypto · 3h ago6/10
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Red Lobster lost millions on its endless shrimp disaster. Shareholders say it was a ‘car crash’ designed to squeeze profits
Red Lobster shareholders are suing former controlling shareholder Thai Union, alleging the company orchestrated a loss-making endless shrimp promotion to artificially boost Thai Union's seafood business at Red Lobster's expense. The lawsuit characterizes the strategy as a 'car crash' designed to extract profits from Red Lobster while damaging the restaurant chain's financial health.
