An investigation on behalf of current long term investors in NewAge, Inc. (OTC:NBEVQ) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 04/05/2023 -- An investigation was announced for current long-term investors in NewAge, Inc. (OTC: NBEVQ) shares concerning potential breaches of fiduciary duties by certain directors of NewAge, Inc.
Investors who are current long term investors in NewAge, Inc. (OTC: NBEVQ) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in OTC: NBEVQ stocks follows a lawsuit filed against NewAge, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in OTC: NBEVQ stocks, concerns whether certain NewAge directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose, among other things, that NewAge, Inc never entered into a "distribution agreement" or "initiative in partnership" with the military and never had plans to sell its products at all commissaries and exchanges around the world, that NewAge, Inc did not have adequate inventory of its products to fulfill this reported agreement, that NewAge, Inc not actually expand its product lines or distribution agreements as represented, that the Company lacked adequate internal controls, that as a result the Company had a heightened risk of regularly scrutiny and ultimately subject to an SEC investigation and action, and that as a result of the foregoing, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased shares of NewAge, Inc. (OTC: NBEVQ) have certain options and should contact the Shareholders Foundation.
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