NEW YORK, Sept. 29, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of National Beverage Corp. ("National Beverage" or the "Company") (NASDAQ: FIZZ) (ISIN: US6350171061). Investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether National Beverage and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On September 27, 2016, Glaucus Research published a report alleging, in part, that the Company's former CEO and Chairman admitted to "manipulating FIZZ's earnings . . . [and] directing his son to create fake invoices"; that the Company's refusal "to allow a potential acquirer to perform adequate due diligence on the Company" led to the failure of a significant transaction; that the Company's officers "are compensated by a privately held company" that disallows shareholder visibility; that former counsel for the Company "testified that he and former FIZZ general counsel 'fudged facts' on behalf of FIZZ in a previous litigation"; and that gifts of stock were not disclosed in the Company's SEC filings.
On this news, National Beverage stock fell $3.81, or 8.19%, to close at $42.67 on September 28, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP