LOS ANGELES--(BUSINESS WIRE)--
Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased National Beverage Corp. (“National Beverage” or the “Company”) (NASDAQ: FIZZ) securities between July 16, 2015 and September 28, 2016, inclusive (the “Class Period”). National Beverage investors have until December 5, 2016 to file a lead plaintiff motion.
Investors suffering losses on their National Beverage investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to [email protected].
On September 28, 2016, Glaucus Research Group published a report alleging that the Company’s CFO and Chairman admitted to manipulating the Company’s earnings and directing the creation of false invoices; and furthermore that the Company refused to allow a potential acquirer to complete due diligence to hide these alleged misdeeds. According to the complaint filed in this lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that National Beverage lacked effective internal controls over financial reporting due, in part, to undisclosed channeling of expenses through off book entities and undisclosed material related parties transactions. The lawsuit claims that as a result, defendants’ statements about National Beverage’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you purchased shares of National Beverage during the Class Period you may move the Court no later than December 5, 2016 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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