A securities class action has been filed in the USDC – CO. against NewAge, Inc. (NBEVQ) on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired NewAge securities between January 18, 2018 through October 18, 2022.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that:
- NewAge never entered into a “distribution agreement” or “initiative in partnership” with the military and never had plans to sell its products at all commissaries and exchanges around the world;
- NewAge did not have adequate inventory of its products to fulfill this reported agreement;
- NewAge did not actually expand its product lines or distribution agreements as represented;
- the Company lacked adequate internal controls;
- as a result the Company had a heightened risk of regularly scrutiny and ultimately subject to an SEC investigation and action; and
- as a result of the foregoing, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.
An attorney will contact you at no cost to provide you information about joining the action and answer your questions. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.