Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion in a Securities Class Action Lawsuit Against the Boston Beer Company, Inc.

NEW YORK, 10/5/2021 (GLOBE NEWSWIRE) – Bernstein Liebhard, a nationally recognized investor rights law firm, is reminding investors of the deadline to file a lead plaintiff motion no later than November 15, 2021 in a securities class action lawsuit filed on behalf of investors who have purchased or acquired securities of The Boston Beer Company, Inc. (“Boston Beer” or the “Company”) (NYSE: SAM) April 22, 2021 to September 8, 2021 (the “Class Period”). The lawsuit in the United States District Court for the Southern District of New York alleges violations of the Securities Act of 1934.

if you Have purchased Boston Beer securities and / or wish to discuss your legal rights and options Please visit The Boston Beer Company Inc’s class action lawsuit or contact Rujul Patel toll-free at (877) 779-1414 or rpatel@bernlieb.com

According to the complaint, Boston Beer made materially false and / or misleading statements and failed to disclose adverse facts relating to the business, operations and prospects of the company. In particular, Boston Beer has failed to disclose to investors: (1) that Boston Beer hard seltzer sales slowed; (2) that Boston Beer would be reasonably likely to write inventory write-downs as a result; (3) that the company is reasonably likely to incur deficit fees to be paid to third party brewers; (4) that Boston Beer’s financial results would be adversely affected as a result of the foregoing; and (5) that, based on the foregoing, Defendants’ positive statements about the business, operations, and prospects of the Company were materially misleading and / or improperly based.

On July 22, 2021 after the market closed, the company trimmed its guidance for full year 2021 and expected earnings per share to be between $ 18 and $ 22, up from an earlier range of $ 22-26. Boston Beer said sales in the hard seltzer category and the overall beer industry were weaker than expected and that it “overestimated the growth of the hard seltzer category in the second quarter”.

The story goes on

As a result of this news, the price of Boston Beer stock fell $ 246.54, or 26%, to close at $ 701.00 per share on July 23, 2021 with unusually high trading volume.

On September 8, 2021, after the market closed, the company withdrew its financial guidance for 2021, citing declining sales of Hard Seltzer products. The company also said it would face “hard seltzer inventory write-offs, deficit fees to be paid to third party breweries, and other costs” for the remainder of fiscal 2021.

Following the news, Boston Beer stock price fell $ 21.09, or 3.7%, to close at $ 538.31 per share on September 9, 2021 with unusually high trading volume.

If you want to appear as the lead plaintiff, you have to go to court no later than November 15, 2021. A lead plaintiff is a representative party who acts on behalf of other group members in directing the dispute. Your ability to partake in a recovery does not require you to be the lead plaintiff. If you do nothing, you can remain an absent class member.

if you Have purchased Boston Beer securities and / or wish to discuss your legal rights and options please visit https://www.bernlieb.com/cases/thebostonbeercompanyinc-sam-shareholder-class-action-lawsuit-fraud-stock-438/apply/ or contact Rujul Patel toll-free at (877) 779-1414 or rpatel@bernlieb.com

Since 1993, Bernstein Liebhard LLP has recovered over $ 3.5 billion for its clients. In addition to representing individual investors, the firm has been hired by some of the country’s largest public and private pension funds to oversee their assets and litigate on their behalf. As a result of its success in hundreds of lawsuits and class actions, the firm has been listed on the National Law Journal’s “Plaintiffs Hot List” thirteen times and The Legal 500 has been listed for ten consecutive years.

ADVERTISING LAWYER. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The attorney responsible for this complaint in the Connecticut state is Michael S. Bigin. Past results do not guarantee or predict a similar result with respect to future matters.

Contact information:

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Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
rpatel@bernlieb.com