SAN FRANCISCO--(BUSINESS WIRE)--Girard Gibbs LLP is investigating claims on behalf of investors of National Beverage Corp., the maker of LaCroix sparkling water (NASDAQ: FIZZ), involving possible securities law violations.
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On June 26, 2018, the Wall Street Journal published an article reporting that National Beverage had failed to provide information to the Securities and Exchange Commission in response to the agency’s request for more detail to clarify sales claims it had previously made in 2017.
Those claims, which were contained in two May 2017 press releases issued by National Beverage, stated that it "employs methods that no other company does in this area—VPO (velocity per outlet) and VPC (velocity per capita)." The company also asserted that it "utilize[s] two proprietary techniques to magnify these measures and this creates growth never before thought possible." On May 5, 2017, National Beverage issued a second press release, stating that "[o]ur impressive VPO calculator . . . is flashing solid green numbers as we bring FY2017 to a close."
Following the Wall Street Journal’s report of National Beverage’s failure to comply with the SEC’s request, shares of FIZZ fell sharply during intraday trading, and ultimately closed down 8.87% on June 27, 2018, thereby injuring investors.
If you purchased or acquired shares of National Beverage Corp. and would like to speak privately with a securities attorney to learn more about the investigation or your legal rights as an investor, please visit our website or contact the securities team directly at (800) 254-9493.
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Girard Gibbs is a national litigation firm representing investors, businesses, municipalities and unions in class and individual actions in state and federal courts throughout the country. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have been honored for the quality of their work and legal achievements with recognition in the Best Lawyers in America list for five consecutive years.
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