NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 10, 2023 to file lead plaintiff applications in a securities class action lawsuit against Beyond Meat, Inc. (NasdaqGS: BYND), if they purchased the Company’s shares between May 5, 2020 and October 13, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the Central District of California.
What You May Do
If you purchased shares of Beyond Meat and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgs-bynd/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by July 10, 2023.
About the Lawsuit
Beyond Meat and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 10, 2021, post-market, the Company disclosed a $1.8 million inventory write-off, which it attributed to effects from Covid-19. On this news, shares of Beyond Meat fell $12.55 per share, or nearly 13%, to close at $81.93 per share on November 11, 2021. Then, on December 9, 2021, media sources reported that Taco Bell had cancelled a planned test of Beyond Carne Asada due to ongoing quality concerns. On this news, shares of Beyond Meat fell $5.58 per share, or nearly 8%, to close at $64.51 per share on December 10, 2021. Finally, on October 14, 2022, pre-market, the Company disclosed the departure of its COO, CFO and CGO. On this news, shares of Beyond Meat fell $1.43 per share, or over 9.6%, to close at $13.35 per share on October 14, 2022.
The case is Retail Wholesale Department Store Union Local 338 Retirement Fund v. Beyond Meat, Inc., No. 23-cv-3602.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit http://ksfcounsel.com/.