Scott+Scott Attorneys At Law LLP Investigating National Beverage Corporation's Directors And Officers For Breach Of Fiduciary Duties - FIZZ
Source Scott+Scott Attorneys at Law LLP
NEW YORK, Jan. 31, 2019 /PRNewswire/ -- Scott+Scott Attorneys at Law LLP ("Scott+Scott"), a national securities and consumer rights litigation firm, is investigating whether certain directors and officers of National Beverage Corporation ("National Beverage" or the "Company") (NASDAQ: FIZZ) breached fiduciary duties to the Company and its shareholders. If you are a National Beverage shareholder, you are encouraged to contact Scott+Scott for additional information.
The investigation concerns whether National Beverage's board of directors made false and/or misleading statements and/or failed to disclose that: (i) National Beverage's sales claims and the supposed underlying "proprietary techniques" lacked a verifiable basis; (ii) National Beverage's Chairman and Chief Executive Officer, Nick A. Caporella ("Caporella"), engaged in a pattern of sexual misconduct between 2014 and 2016; and (iii) as a result, National Beverage's public statements were materially false and misleading at all relevant times.
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. Following this news, National Beverage's share price fell $9.75, or 8.87%, to close at $100.19 on June 27, 2018.
Then, on July 3, 2018, the Wall Street Journal published an article, entitled "Billionaire Behind LaCroix Accused of Improper Touching by Two Pilots," which reported, in part, that two pilots filed lawsuits alleging sexual harassment by Caporella on more than 30 trips from 2014 to 2016. Following this news, National Beverage's share price fell $2.90, or 2.64%, over the following two trading days, closing at $107.04 on July 6, 2018.
What You Can Do
If you are a National Beverage shareholder, you may have legal claims against the Company's directors and officers. If you wish to discuss this investigation, please contact attorney Joe Pettigrew toll-free at (844) 818-6982 or at [email protected].
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
