Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Boston Beer To Contact Him Directly To Discuss Their Options
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against The Boston Beer Company, Inc. (“Boston Beer” or the “Company”) (NYSE: SAM) and reminds investors of the November 15, 2021 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $400,000 investing in Boston Beer stock or options between April 22, 2021 and September 8, 2021 and would like to discuss your legal rights, Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose: (1) that Boston Beer’s hard seltzer sales were decelerating; (2) that, as a result, Boston Beer was reasonably likely to incur inventory write-offs; (3) that the Company 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 foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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. The Company cited softer-than-expected sales in the hard seltzer category and overall beer industry and also stated that it had “overestimated the growth of the hard seltzer category in the second quarter.”
On this news, the Company’s share price fell $246.54, or 26%, to close at $701.00 per share on July 23, 2021, on unusually heavy trading volume.
On September 8, 2021, after the market closed, Boston Beer withdrew its 2021 financial guidance, citing decelerating sales of hard seltzer products. The Company also stated that it “expects to incur hard seltzer-related inventory write-offs, shortfall fees payable to 3rd party brewers, and other costs” for the remainder of fiscal 2021.
On this news, the Company’s share price fell $21.09, or 3.7%, to close at $538.31 per share on September 9, 2021, on unusually heavy trading volume.
The Boston Beer Company, Inc.
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Filed on 09/15/2021
Lead Plaintiff Deadline 11/15/2021
685 Third Avenue 26th Floor
10017 New York, New York
Phone (212) 983-9330
Fax (212) 983-9331
Robert W. Killorin email@example.com Phone (404) 847-0617 Fax (404) 506-9534
James M. Wilson, Jr. firstname.lastname@example.org Phone (212) 983-9330 Fax (212) 983-9331