The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of NewAge, Inc. (OTCMKTS: NBEVQ) who purchased shares between January 18, 2018 and October 18, 2022. The action, which was filed in the United States District Court for the District of Colorado, alleges that the Company violated federal securities laws.
(1) the Company and defendants had no relationship with the military or FamilyMart; (2) the Company and defendants overstated the business agreements that they did have; (3) the Company and defendants never produced or sold a proprietary CBD beverage; (4) the Company lacked adequate internal controls; (5) as a result the Company had a heightened risk of regularly scrutiny and ultimately subject to an SEC investigation and action; and (6) as a result of the foregoing, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders have until February 6, 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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