Shareholder rights law firm Robbins Arroyo LLP announces that a purchaser of National Beverage Corp (Nasdaq: FIZZ) has filed a shareholder lawsuit against the company’s officers and directors for breaches of fiduciary duties from July 17, 2014 through the present. National Beverage, through its subsidiaries, develops, produces, markets, and sells flavored beverages in North America and internationally.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/national-beverage-corp-nov-2018/
National Beverage Accused of Making Misleading Statements
According to the complaint, National Beverage made a series of false and misleading statements to the investing public. For example, National Beverage falsely touted that it “utilize[s] two proprietary techniques¦ [that] create growth never before thought imaginable.” These statements were false because the company’s “proprietary techniques” lacked a verifiable basis and were in fact questioned by the SEC. The company also flaunted its Code of Ethics, which promoted a positive work environment and prohibited any type of harassment. Violating this stated policy, Nick Caporella, the company’s Chairman and Chief Executive Officer, has been sued for engaging in a pattern of sexual misconduct between 2014 and 2016. National Beverage also failed to disclose certain compensation received by Caporella, including use of the company jet for personal means, and that he engages in unreported third party transactions with Broad River Aviation, Inc. Each revelation of false information has caused National Beverage’s stock to decline over the years, causing damage to shareholders and loss of market capitalization.
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National Beverage Shareholders Have Legal Options
If you would like more information about your rights and potential remedies, contact attorney Leonid Kandinov at (800) 350-6003, [email protected], or via the shareholder information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Sign up for our FREE portfolio monitoring service, Stock Watch.
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