The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Southern District of New York on behalf of shareholders of The Boston Beer Company, Inc. who purchased shares between April 22, 2021 and September 8, 2021.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose 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.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until November 15, 2021 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.