LOS ANGELES--(BUSINESS WIRE)--National securities litigation law firm Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors that purchased National Beverage Corp. (“National Beverage” or the “Company”) (NASDAQ: FIZZ) between July 17, 2014, and July 3, 2018, inclusive (the “Class Period”). National Beverage investors have until September 17, 2018 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
Investors that suffered losses on their National Beverage investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.com.
On May 4, 2017, National Beverage issued a press release stating that it "employs methods that no other company does in this area—VPO (velocity per outlet) and VPC (velocity per capita)." National Beverage further stated that it "utilizes two proprietary techniques to magnify these measure and this creates growth never before thought possible." On May 5, 2017, National Beverage issued a second press release, asserting that "our impressive VPO calculator . . . is flashing solid green numbers as we bring FY2017 to a close." Then on June 26, 2018, the Wall Street Journal published an article reporting that National Beverage had "declined to provide" the U.S. Securities and Exchange Commission ("SEC") "with requested sales figures to clarify National Beverage's sales claims," following a letter request from the SEC in January 2018. On this news, National Beverage had a two day drop of $15.06, or nearly 13%, to close at $100.19 on June 27, 2018, thereby injuring investors.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) National Beverage’s sales claims and the supposed underlying “proprietary techniques” lacked a verifiable basis; (ii) National Beverage’s Chairman and Chief Executive Officer (“CEO”), Defendant Nick A. Caporella (“Caporella”), engaged in a pattern of sexual misconduct between 2014 and 2016; and (iii) as a result, National Beverage’s public statements were materially false and misleading at all relevant times.
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If you purchased shares of National Beverage during the Class Period you may move the Court no later than September 17, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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