Cava Group, the Mediterranean fast-casual chain that went public in 2023, faces a $2.2 billion shareholder derivative lawsuit filed by the Cleveland Bakers and Teamsters Pension Fund. The fund accuses insiders, including entities linked to Belgian billionaire Eric Wittouck, of selling nearly $1.8 billion in shares between August 2024 and March 2025 while concealing slowing growth. Co-founder Ronald Shaich is also targeted for approximately $330 million in sales. The stock, which peaked at $150 during its IPO, was trading at $64.54 on July 28, less than half its all-time high. Cava has stated it intends to vigorously seek dismissal of the lawsuit.
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