NEW YORK, June 12, 2019 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that it is investigating potential claims against National Beverage Corp. (NASDAQ: FIZZ) on behalf of its stockholders. Our investigation concerns whether National Beverage has violated the federal securities laws and/or engaged in other unlawful business practices.
On June 11, 2019, a former LaCroix executive filed a complaint in the Superior Court of New Jersey, Passaic County, alleging that the president of National Beverage planned to falsely state in April that its sparkling water cans were BPA-free. More specifically, the complaint alleged that its President, Joseph Caporella, “had decided to prematurely announce that LaCroix cans would be BPA-free going forward, months before the true production date, in order to drive positive buzz and awareness for the suffering brand.”
Following this news, the Company’s share price closed at $45.15 on June 11, 2019, a decrease of over 5%.
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