A lawsuit was filed on behalf of investors in National Beverage Corp. (NASDAQ:FIZZ) shares over alleged securities laws violations and NASDAQ:FIZZ investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/11/2016 -- The Shareholders Foundation announced that an investor, who purchased shares of National Beverage Corp. (NASDAQ:FIZZ), filed a lawsuit in California over alleged violations of Federal Securities Laws by National Beverage Corp. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of National Beverage Corp. (NASDAQ:FIZZ) have certain options and for certain investors are short and strict deadlines running. Deadline: December 5, 2016. NASDAQ:FIZZ investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff alleges on behalf of purchasers of National Beverage Corp. (NASDAQ:FIZZ) common shares between July 16, 2015 and September 28, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between July 16, 2015 and September 28, 2016 the defendants made false and/or misleading statements and/or failed to disclose that National Beverage Corp 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, and that as a result, defendants' statements about National Beverage Corp's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On September 27, 2016 a report was published that alleges, among other allegations, that: the Company's former CEO and Chairman admitted to "manipulating FIZZ's earnings…[and] directing his son to create fake invoices"; the Company refused to allow a potential acquirer to perform adequate due diligence on the Company, thus leading to the failure of the transaction; and that the Company's officers are "compensated by a privately held company" that disallows shareholder visibility. Shares of National Beverage Corp. (NASDAQ:FIZZ) declined to as low as $39.14 per share on September 28, 2016.
On October 10, 2016, NASDAQ:FIZZ shares closed at $48.85 per share.
Those who purchased shares of National Beverage Corp. have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com