The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Beyond Meat, Inc. (NASDAQ: BYND) who purchased common stock between May 5, 2020 and October 13, 2022. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
According to the complaint, throughout the Class Period defendants made numerous materially false and misleading statements and omissions concerning the Company’s ability to produce plant-based meats at scale. Specifically, defendants repeatedly assured investors that Beyond Meat conducted “extensive testing” to “ensure manufacturability” of its plant-based meat products at commercial scale, and touted the success of the Company’s product tests with its large-scale partnerships as “very positive.” Further, defendants blamed any delays in launching these large-scale partnerships on Covid-19.
Shareholders have until July 10, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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