The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of The Boston Beer Company, Inc. (NYSE: SAM) who purchased shares between April 22, 2021 and September 8, 2021. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Boston Beer lawsuit alleges that (1) Boston Beer’s hard seltzer sales were decelerating; (2) as a result, Boston Beer was reasonably likely to incur inventory write-offs; (3) the Company was reasonably likely to incur shortfall fees payable to third party brewers; (4) as a result of the foregoing, Boston Beer’s financial results would be adversely impacted; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until November 15, 2021 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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