The investigation concerns whether Beyond Meat and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. Such investors are advised to contact Robert S. (“Beyond Meat” or the “Company”) (NASDAQ: BYND).
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.NEW YORK, J(GLOBE NEWSWIRE) - Pomerantz LLP is investigating claims on behalf of investors of Beyond Meat, Inc. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 31, by email to or visit our website at If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. To be a member of the class action you need not take any action at this time you may retain counsel of your choice or take no action and remain an absent member of the class action. If you purchased or otherwise acquired Beyond Meat common stock during the Class Period, you may move the Court no later than Jto request appointment as lead plaintiff in this putative class action lawsuit. Such issues were exacerbated by Beyond Meat’s disjointed production lines (3) These problems led some partners to balk at the high price of Beyond Meat’s products and express doubts about the Company’s ability to produce them at commercial scale and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.įollow us for updates on Twitter: /FRC_LAW. Specifically, Defendants failed to disclose to investors that: (1) Beyond Meat was unable to manufacture its meat substitutes at scale to the specifications of its partners (2) Beyond Meat suffered from widespread scaling issues, particularly misalignment and delayed decision-making, which led to corresponding production delays. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. On this news, Beyond Meat’s stock price fell $1.43, or 9.7%, to close at $13.35 per share on October 14, 2022, thereby injuring investors further. Then, on October 14, 2022, Beyond Meat announced departures of several top executives, including the Company’s Chief Operating Officer, Chief Growth Officer, and Chief Financial Officer. On this news, Beyond Meat’s stock price fell $5.58, or 7.8%, to close at $64.41 per share on December 10, 2021. Then, on December 9, 2021, after the market closed, media sources reported that a planned product test between Beyond Meat and Taco Bell had been cancelled due to ongoing quality concerns. On this news, Beyond Meat’s stock price fell $3.01, or 3.6%, to close at $80.47 per share on November 17, 2021. Then on November 17, 2021, Bloomberg reported on Beyond Meat’s production delays and execution challenges, stating that former employees claimed that there were “significant internal problems” stemming from “confusing and misalignment” and “belated decision-making” that corresponded with exacerbated production delays. On this news, Beyond Meat’s stock price fell $12.55, or 13.3%, to close at $81,93 per share on November 11, 2021. Then, on November 10, 2021, Beyond Meat announced a $1.8 billion write-off of unsold inventory. On this news, Beyond Meat’s stock price fell $12.82, or 11.8%, to close at $95.80 per share on October 22, 2021, thereby injuring investors. The Company also disclosed that its expenses and inventories were continuing to rise. On October 22, 2021, Beyond Meat announced that it was reducing its third quarter revenue outlook by up to $34 million.
If you are a shareholder who suffered a loss, click here to participate. (“Beyond Meat” or the “Company”) (NASDAQ: BYND) common stock between and October 13, 2022, inclusive (the “Class Period”).
Cruz reminds investors of the upcoming Jdeadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired Beyond Meat, Inc. LOS ANGELES-( BUSINESS WIRE)- The Law Offices of Frank R.
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