BUSINESS: Shareholder Alert: Kessler Topaz Meltzer & Check, LLP Reminds Shareholders Of The Boston Beer Company, Inc. About The Securities Class Action Lawsuit

dWeb.News Article from Daniel Webster dWeb.News

dWeb.News Article from Daniel Webster dWeb.News

by Daniel Webster, dWeb.News Publisher

RADNOR, Pa., Oct. 9, 2021 /PRNewswire/ — The law firm of Kessler Topaz Meltzer & Check, LLP reminds investors that a securities fraud class action lawsuit has been filed against The Boston Beer Company, Inc. (NYSE: SAM) (“Boston Beer”) on behalf of those who purchased or acquired Boston Beer securities between April 22, 2021 and September 8, 2021, inclusive (the “Class Period”).

Deadline Reminder: Investors who purchased or acquired Boston Beer securities during the Class Period may, no later than November 15, 2021, seek to be appointed as a lead plaintiff representative of the class. To learn more or how you can participate in the litigation, please contact Kessler Topaz Meltzer LLP: James Maro Esq. (484) 270-1453; toll free at (844) 887-9500; via e-mail at [email protected]; or click here.

Boston Beer is a high-end alcoholic beverage company that produces hard seltzer, malt beverages, and hard cider at its cidery and under contractual arrangements at other brewery locations.

On July 22, 2021, after the market closed, Boston Beer reduced its full year 2021 guidance, expecting earnings per share between $18 and $22, down from a prior range of $22 and $26. Boston Beer stated that sales of hard seltzer and the overall beer industry were lower than expected and claimed it had “overestimated” the growth in hard seltzer.

Then, on September 8, 2021, after the market closed, Boston Beer withdrew its 2021 financial guidance, citing decelerating sales of hard seltzer products. Boston Beer also stated that it “expects to incur hard seltzer-related inventory write-offs, shortfall fees payable to third party brewers, and other costs” for the remainder of fiscal 2021. Following this news, Boston Beer’s share price fell $21. 09, or 3.7%, to close at $538. 31 per share on September 9, 2021. The complaint claims that the defendants failed disclose to investors the following information: 1639120 per share on September 9, 270.

Boston Beer investors may, no later than November 15, 2021, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative who acts for all class members and directs the litigation. To be named as a lead plaintiff, a Court must decide that the claim of the class member is similar to other class members’ and that the class member will effectively represent the class. The decision to be a lead plaintiff or not is not going to affect your ability to share in any recovery.

Kessler Topaz Meltzer & Check LLP pursues class actions in federal and state courts across the country involving securities fraud and breaches of fiduciary duty. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. It represents investors, consumers, and whistleblowers (private citizens who report fraud against the government) and shares in the recovery of government money. Kessler Topaz Meltzer & Check LLP did not file the complaint in this case. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, PA 19087
(844) 887-9500 (toll free)
[email protected]

SOURCE Kessler Topaz Meltzer & Check, LLP

Related Links

http://www.ktmc.com

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