Glancy Prongay & Murray LLP Commences Investigation on Behalf of National Beverage Corp. Investors
19 October 2016 - 7:19AM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) announces an
investigation on behalf of National Beverage Corp. (“National
Beverage” or the “Company”) (NASDAQ: FIZZ) investors 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 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 shareholders@glancylaw.com, or visit our website at
http://www.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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version on businesswire.com: http://www.businesswire.com/news/home/20161018006697/en/
Glancy Prongay & Murray LLP, Los Angeles/New YorkLesley
Portnoy, 310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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