The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of National Beverage Corp. (NASDAQ: FIZZ) who purchased shares between July 17, 2014 and July 3, 2018. The action, which was filed in the United States District Court for the Southern District of Florida, alleges that the Company violated federal securities laws.
In particular, the FIZZ lawsuit alleges that (1) National Beverage's sales claims and its supposed "proprietary techniques" lacked a verifiable basis; (2) the Company's Chairman and CEO engaged in a pattern of sexual misconduct between 2014 and 2016; and (3) as a result, National Beverage's public statements were materially false and misleading at all relevant times. On May 4, 2017, National Beverage issued a press release stating that it “employs methods that no other company does in this area—VPO (velocity per outlet) and VPC (velocity per capita).” National Beverage asserted that it “utilize[s] two proprietary techniques to magnify these measures and this creates growth never before thought possible.” Then on June 26, 2018 the Wall Street Journal reported that National Beverage had declined to provide the U.S. Securities and Exchange Commission with requested sales figures to clarify their sales claims. Then on July 3, 2018, the Wall Street Journal published an article reporting that two pilots had filed lawsuits alleging that National Beverage's CEO had sexually harassed them.
Shareholders have until September 17, 2018 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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