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NEW YORK, Oct. 31, 2016 -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of National Beverage Corp. (“National Beverage”) (NASDAQ:FIZZ) between July 16, 2015 and September 28, 2016.
You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Central District of California. If you purchased or otherwise acquired National Beverage between July 16, 2015 and September 28, 2016, your rights may be affected by this action. To get more information go to:
http://www.zlk.com/pslra/national-beverage-corp
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The Complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that it lacked effective internal controls over financial reporting.
On September 27, 2016, a report from Glaucus Research was issued alleging, among other allegations, that: the Company’s former CEO and Chairman admitted to “manipulating FIZZ’s earnings…[and] directing his son to create fake invoices”; the Company refused to allow a potential acquirer to perform adequate due diligence on the Company, thus leading to the failure of the transaction; and that the Company’s officers are “compensated by a privately held company” that disallows shareholder visibility. Following this report, shares fell more than 8% to close at $42.67 per share on September 28, 2016.
If you suffered a loss in National Beverage you have until December 5, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
