LOS ANGELES, CA / ACCESSWIRE / November 28, 2016 / Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against National Beverage Corp. ("National Beverage" or the "Company") (NASDAQ: FIZZ) concerning possible violations of federal securities laws. Investors who purchased or otherwise acquired National Beverage shares between July 16, 2015 and September 28, 2016 inclusive (the "Class Period"), are encouraged to contact the firm in advance of the December 5, 2016 lead plaintiff motion deadline.
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
The complaint alleges that during the Class Period, the Company's statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. On September 27, 2016, Glaucus Research published a report alleging: that National Beverage's former CEO and Chairman admitted to manipulating the Company's earnings and directing his son to make fake invoices; that the Company refused to allow a potential acquirer to perform adequate due diligence which led to the failure of a significant transaction; that National Beverage officers are compensated by a privately held company which disallows shareholder visibility; that the Company's former counsel testified that he and former general counsel "fudged facts" on the Company's behalf in a previous litigation; and that gifts of stock were not disclosed in the Company's SEC filings. When this news was disclosed, the stock price of National Beverage decreased, which caused investors harm.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding the rights of shareholders.
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SOURCE: Lundin Law PC