The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of National Beverage Corp. ("National Beverage" or the "Company") (NASDAQ: FIZZ) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. National Beverage issued a press release on May 4, 2018, claiming that it “employs methods that no other company does in this area—VPO (velocity per outlet) and VPC (velocity per capita).” The press release also claimed the Company “utilize[s] two proprietary techniques to magnify these measures and this creates growth never before thought possible.” National Beverage issued a second press release the next day which claimed, “[o]ur impressive VPO calculator . . . is flashing solid green numbers as we bring FY2017 to a close.” The Wall Street Journal published an article on June 26, 2018, titled “The SEC Has Had Its Own Questions About LaCroix,” which reported that National Beverage “declined to provide” the SEC with information requested by the agency “with requested figures to clarify [National Beverage’s] sales claims,” which the SEC sought in a letter to the Company in January. Based on this report, shares in National Beverage fell significantly during intraday trading on June 27, 2018.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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