BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith continues its investigation on behalf of The Boston Beer Company, Inc. (“Boston Beer” or the “Company”) (NYSE: SAM) investors concerning the Company and its officers’ possible violations of federal securities laws.
On September 8, 2021, after the market closed, Boston Beer announced that it was withdrawing its 2021 financial guidance issued on July 22, 2021 as a result of a decrease in demand for its hard seltzer products. The Company further disclosed that it expects to incur hard seltzer-related inventory write-offs, shortfall fees payable to 3rd party brewers, and other costs associated with the drop in demand during the remainder of fiscal year 2021.
On this news, Boston Beer’s share price fell $21.09, or over 3.77%, to close at $538.31 per share on September 9, 2021, thereby injuring investors.
If you purchased Boston Beer securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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