A securities class action has been filed in the USDC –W.D.N.Y. against Constellation Brands, Inc. (STZ) (“Constellation” or the “Company”) on behalf of all persons or entities who purchased or otherwise acquired Constellation securities between April 11, 2024, and January 8, 2025 (the “Class Period”).
Constellation together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides its products to wholesale distributors, retailers, on-premise locations, and state alcohol beverage control agencies.
The Complaint alleges that the Defendants made false and/or materially misleading statements. Specifically, the Defendants created the false impression that they possessed reliable information pertaining to Constellation’s Wine and Spirits business. Contrary to these statements, Defendants had failed to improve mix, inventory and sales execution and investments made in media spend and price promotions as well as adjustments in sales capabilities to support distributor partners had not been as effective as they claimed. Consequently, the statements misled investors by providing the public with materially flawed statements of confidence and growth projections which did not account for these variables.
As a result of the Company’s third quarter fiscal year 2025 results press release, from a closing market price of $219.28 per share on January 8, 2025 to $181.81 per share on January 10, 2025.
If you purchased Constellation securities during the Class Period, and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.