BENSALEM, Pa.--(BUSINESS WIRE)--
Law Offices of Howard G. Smith announces an investigation on behalf of investors of National Beverage Corp. (“National Beverage” or the “Company”) (NASDAQ: FIZZ) concerning the Company and its officers’ possible violations of federal securities laws.
National Beverage, through its subsidiaries, develops, produces, markets and sells a portfolio of flavored beverage products primarily in North America.
The investigation concerns a September 27, 2016, Glaucus Research report alleging: (1) that the former National Beverage CEO and Chairman admitted to “manipulating earnings” and instructing his son to “create fake invoices”; (2) that the Company failed to allow a significant potential acquirer to complete adequate due diligence, causing the transaction to fall through; (3) that National Beverage’s officers are “compensated by a privately held company” which prevents shareholder visibility; (4) that former counsel for the Company “fudged facts” for the Company in prior litigation; and (5) that certain stock gifts were not reported in the Company's SEC filings.
On this news, shares of National Beverage fell sharply, over 8%, to close at $42.67 on September 28, 2016, thereby injuring investors.
If you purchased National Beverage securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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