Red Lobster lost millions on its endless shrimp disaster. Shareholders say it was a ‘car crash’ designed to squeeze profits

Red Lobster's $20 'Ultimate Endless Shrimp' promotion caused significant financial losses, with shareholders alleging Thai Union Group exploited its controlling stake to push the promotion permanently, leading to bankruptcy and lawsuits over $32 million in disputed transactions. The promotion, which became a regular offering in 2023, allegedly prioritized Thai Union's interests as the exclusive shrimp supplier, driving down customer spending per visit.