ATLANTA, GA – – (Globe Newswire – August 19, 2026) – – A shareholder class action lawsuit has been filed against The Simply Good Foods Company (“Simply Good Foods” or the “Company”) (NASDAQ: SMPL). The lawsuit alleges that Defendants, made false and misleading statements and/or failed to disclose material adverse facts, including allegations that: (i) Simply Good Foods had lost key managerial personnel following the Acquisition necessary for the successful integration of the acquired OWYN assets, impairing its ability to achieve the Acquisition’s purported strategic initiatives and financial and operational targets; (b) Simply Good Foods had materially increased its general and administrative spending to compensate for the loss of key managerial personnel, leading to an inefficient and bloated organizational structure and the lack of clear and cohesive strategic priorities for its OWYN segment; (c) the addition of a new pea protein supplier for OWYN formulations prior to the Acquisition had created significant product quality issues which had negatively impacted the taste, texture, and shelf-life of OWYN products, leading to negative product reviews, depressed consumer sales, and the loss of important distributor relationships; (d) in an effort to boost sales in the short-term, the Company had offered discounts and engaged in other promotional activities for OWYN products above its historical practices, eroding the Company’s margins but failing to achieve the desired sales turnaround; (e) in order to stem the margin erosion being suffered in its OWYN segment, the Company had cut brand support and marketing for OWYN, further depressing product sales;  and (f) as a result of the foregoing, the Acquisition had largely failed to achieve its key strategic goals, the integration of OWYN had run into severe operational and execution problems, and the business and operational results for the Company’s OWYN segment had been materially negatively impacted, undermining the Acquisition’s economic rationale.

 If you purchased Simply Good Foods shares between October 24, 2024 and April 8, 2026, and experienced a loss on that investment, you are encouraged to discuss your legal rights by contacting Corey D. Holzer, Esq. at cholzer@holzerlaw.com, by toll-free telephone at (888) 508-6832, or by visiting the firm’s website at www.holzerlaw.com/case/simply-good-foods/ for more information.

The deadline to ask the court to be appointed lead plaintiff in the case is October 13, 2026.