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Oklahoma City, OK (October 15, 2021) – On September 14, 2021, a securities class action lawsuit was filed in the United States District Court for the Southern District of New York against The Boston Beer Company, Inc. (NYSE: SAM) (“Boston Beer”). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is April 22, 2021 through September 8, 2021. More specifically, Defendant failed to disclose to investors: (1) that Boston Beer’s hard seltzer sales were declining; (2) that, as a result, Boston Beer was reasonably likely to experience inventory write-offs; (3) that Boston Beer was reasonably likely to incur shortfall fees payable to third party brewers; (4) that, as a result of the foregoing, Boston Beer’s financial results would be adversely impacted; and (5) that, as a result of the preceding, Defendant’s positive statements about Boston Beer’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
The lawsuit seeks to recover damages on behalf of all The Boston Beer Company, Inc. investors who purchased common stock during the Class Period. You may move the Court no later than Monday, November 15, 2021 to serve as a lead plaintiff for the entire Class.
If you wish to obtain further information and participate in this or any other securities litigation, or should you have any questions regarding this notice or preservation of your rights, please contact: Priscilla Scoggins at firstname.lastname@example.org