NEW YORK, June 27, 2018 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of National Beverage Corp. ("National Beverage" or the "Company") (NASDAQ: FIZZ) (ISIN: US6350171061). Investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether National Beverage and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On May 4, 2017, National Beverage, the maker of LaCroix sparkling water, issued a press release stating that it "employs methods that no other company does in this area—VPO (velocity per outlet) and VPC (velocity per capita)." National Beverage asserted that it "utilize[s] two proprietary techniques to magnify these measure and this creates growth never before thought possible." On May 5, 2017, National Beverage issued a second press release, stating that "[o]ur impressive VPO calculator . . . is flashing solid green numbers as we bring FY2017 to a close." On June 26, 2018, the Wall Street Journal published an article entitled "The SEC Has Had Its Own Questions About LaCroix", reporting that National Beverage had "declined to provide" the U.S. Securities and Exchange Commission ("SEC") "with requested sales figures to clarify [National Beverage's] sales claims", following a letter request from the SEC in January 2018. On this news, National Beverage's share price has fallen sharply during intraday trading on June 27, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP