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National Beverage Corp. (FIZZ)

NASDAQ:FIZZ

Summary

Faruqi & Faruqi, LLP is Investigating National Beverage Corp. (FIZZ) on Behalf of its Shareholders

Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential misconduct at National Beverage Corp. (“National Beverage” or the “Company”) (NASDAQ:FIZZ).

The investigation focuses on whether the Company’s Board of Directors and/or its officers committed mismanagement and breached their fiduciary duties.  On September 28, 2016, Glaucus Research Group published a report on the Company alleging, among other things, that: (i) a complaint filed by a former attorney for Nick Caporella, National Beverage’s CEO and Chairman, alleged that Caporella “admitted to manipulating [the Company’s] earnings using a ‘little jewel box’ and by directing his son to create fake invoices”; (ii) “records produced in a 2014 litigation indicate that Caporella refused to allow a potential acquirer to perform adequate due diligence of the Company, which appears to be a contributing factor in the failure of the deal”; (iii) the Company’s CEO and CFO “are not paid or directly employed by [National Beverage].  Rather, they are compensated by a privately held company, Corporate Management Advisors, (‘CMA’), owned by the CEO”; (iv) “a complaint brought by [National Beverage’s] former marketing director for one of its premier brands alleges that he was instructed to set up a corporate entity in order to be paid as an independent contractor”; (v) a “plaintiff alleged that a [Company] employee was physically present at, operated, directed and managed an independent distributor not listed as a subsidiary or related party in any of the Company’s filings”; (vi) “Testimony from a 2014 deposition indicates that an employee received a ‘stock gift’ of 150,000 shares (and a cash payment to cover the attendant taxes) from [National Beverage’s] CEO and majority shareholder even though such a stock transfer was never reflected in the Company’s SEC filings”; and (vii) “Former Company counsel (and convicted criminal) Scott Rothstein testified that he and former [National Beverage] general counsel ‘fudged facts’ on behalf of [National Beverage] in a previous litigation.” As a result of the foregoing, National Beverage is currently facing a securities class action lawsuit.

Take Action

If you currently own National Beverage stock and would like to discuss your legal rights, please fill out the form below.  You can also contact us by calling Nina Varindani toll free at (212) 983-9330 or by sending an e-mail to nvarindani@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding National Beverage’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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  • Company:
    National Beverage Corp. (FIZZ)
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Contact Counsel

Stuart J. Guber
Nina Varindani
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 01/17/2017

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