SAN DIEGO, October 02, 2021 (GLOBE NEWSWIRE) – Robbins Geller Rudman & Dowd LLP announces that purchasers or purchasers of securities of The Boston Beer Company, Inc. (NYSE: SAM) between April 22, 2021 and September 8, 2021 inclusive (the “Class Period”) have until November 15, 2021 to request a appointment as principal applicant. The Boston beer The class action lawsuit accuses Boston Beer, some of its senior executives, and a director of violations of the Securities Exchange Act of 1934. The Boston beer class action (Siegel v. The Boston Beer Company, Inc., # 21-cv-07693) began September 14, 2021 in the Southern District of New York and is attributed to Judge Vernon S. Broderick.
If you wish to serve as the principal applicant of the Boston beer class action, please fill in your information by clicking here. You can also contact the lawyer JC Sanchez from Robbins Geller by calling 800 / 449-4900 or emailing [email protected]. The principal applicant’s requests for the Boston beer The class action must be filed with the court no later than November 15, 2021.
CASE ALLEGATIONS: The Boston beer The class action alleges that, throughout the Class Period, the Defendants made false and misleading representations and failed to disclose that: (i) sales of Boston Beer soda water were slowing; (ii) as a result, Boston Beer was reasonably susceptible to write-offs from inventory; (iii) Boston Beer was reasonably likely to incur shortfall charges payable to third party brewers; (iv) therefore, the financial results of Boston Beer would be adversely affected; and (v) thus, the defendants’ positive statements about Boston Beer’s business, operations and prospects were materially misleading and / or lacking a reasonable basis.
On July 22, 2021, Boston Beer lowered its guidance for the year 2021, expecting earnings per share of between $ 18 and $ 22, down from an earlier range of $ 22 and $ 26. In doing so, Boston Beer cited weaker-than-expected sales in the hard salts category and in the beer industry as a whole and also said it had “overestimated the growth of the hard salts category in the past. second trimester”. Following this news, Boston Beer’s share price fell 26%.
Then, on September 8, 2021, Boston Beer withdrew its financial guidance for 2021, citing a deceleration in sales of hard Seltzer products. Boston Beer also said it “expects to incur seltzer water-related inventory write-offs, shortfall fees payable to third-party brewers and other costs” for the remainder of the year. 2021. On this news, Boston Beer’s stock price fell a further 3.7. %, which still hurts investors.
THE MAIN COMPLAINANT PROCESS: The Private Securities Litigation Reform Act of 1995 allows any investor who purchased securities of Boston Beer during the Class Period to seek appointment as principal plaintiff in the Boston beer class action lawsuit. A principal plaintiff is generally the plaintiff with the greatest financial interest in the remedy sought by the putative class which is also typical and adequate of the putative class. A principal applicant acts on behalf of all other class members by ordering Boston beer class action lawsuit. The lead plaintiff can choose a law firm of their choice to argue the case. Boston beer class action lawsuit. The ability of an investor to participate in any potential future recovery of the Boston beer the class action does not depend on the function of principal plaintiff.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 attorneys in 9 offices across the country, Robbins Geller Rudman & Dowd LLP is the largest US law firm representing investors in securities class actions. Robbins Geller lawyers have secured many of the largest shareholder recoveries in history, including the largest securities class action recovery ever – $ 7.2 billion – in In re Enron Corp. Dry. Litigation. The 2020 ISS Securities Class Action Services Top 50 report ranked Robbins Geller # 1 for recovering $ 1.6 billion from investors last year, more than double the amount recovered by any other company from securities claimants. Please visit http://www.rgrdlaw.com for more information.
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Robbins Geller Rudman & Dowd LLP
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JC Sanchez, 800-449-4900