SAN DIEGO & FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of National Beverage Corp (Nasdaq: FIZZ) have until September 17, 2018, to ask to be appointed Lead Plaintiff for the class. National Beverage, through its subsidiaries, develops, produces, markets, and sells flavored beverages in North America and internationally.
View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/national-beverage-corp-fizz-july-2018/
National Beverage Accused of Making Misleading Statements
According to the filed class action complaint, National Beverage touted its revenue and asserted that it "utilize[s] two proprietary techniques… [that] create growth never before thought imaginable." These statements were false and misleading because National Beverage failed to disclose that its "proprietary techniques" lacked a verifiable basis – even after being questioned by the U.S. Securities and Exchange Commission. On December 8, 2017, after National Beverage issued a press release announcing its financial and operating results for the period ended October 28, 2017, an analyst at Credit Suisse assigned an "underperform" rating to the company's stock, noting that National Beverage's business was driven "almost entirely" by the success of its LaCroix sparkling water brand, the growth trajectory of which was slowing. That same day, an analyst at Maxim reiterated a "sell" recommendation, noting that company's "numerous weak brands and opaque financial reporting" made its sale "highly unlikely."
The company also flaunted its Code of Ethics, which promoted a positive work environment and prohibited any type of harassment. Violating this stated policy, Nick Caporella, the company's Chairman and Chief Executive Officer, has been sued for engaging in a pattern of sexual misconduct between 2014 and 2016. These revelations have caused a further decline in the company's stock price.
National Beverage Shareholders Have Legal Options
If you would like more information about your rights and potential remedies, contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Sign up for our FREE portfolio monitoring service, Stock Watch.
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