IRVINE, Calif.--(BUSINESS WIRE)--
Khang & Khang LLP (the “Firm”) announces a class action lawsuit has been filed against National Beverage Corp. (“National Beverage” or the “Company”) (Nasdaq: FIZZ). 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 prior to the December 5, 2016 lead plaintiff motion deadline.
If you purchased shares of National Beverage during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at [email protected].
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
According to the complaint, National Beverage made false and misleading statements and/or failed to disclose that it lacked effective internal controls over financial reporting. On September 27, 2016, Glaucus Research Group published a report revealing: 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. Thus, 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.
If you wish to learn more about this lawsuit, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at [email protected].
This press release may constitute Attorney Advertising in some jurisdictions.
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