Anheuser-Busch investors may receive additional information about the case by clicking the link "Submit Your Information" above.
According to the complaint, Anheuser-Busch is engaged in the production, distribution, and sale of beer, alcoholic beverages, and soft drinks worldwide. Anheuser-Busch was incorporated in March 2016 and is the successor of former AB InBev. With a portfolio of over 500 brands, including Budweiser, Corona, Stella Artois, and Beck’s and a brewing heritage dating back more than 600 years, Anheuser-Busch has become the world’s largest brewer by volume, primarily via a series of major business combinations and acquisitions. In 2008, AB InBev was formed when Belgian brewer InBev acquired America’s largest beer maker, Anheuser-Busch Companies for $52 billion. Prior thereto, InBev came into existence when Interbrew of Belgium and AmBev of Brazil merged in 2004. In 2013, AB InBev acquired control of Mexican brewer Grupo Modelo, and, in April 2014, it completed the acquisition of Korea’s Oriental Brewing. Thereafter, in October 2016, Anheuser-Busch completed a merger with SABMiller in a transaction valued at more than $100 billion. These business combinations caused Anheuser-Busch’s debt to skyrocket.
The Class Period commences on March 1, 2018, when Anheuser-Busch issued a press release announcing its financial results for the 2017 fourth quarter and fiscal year end, the periods ended December 31, 2017. The press release highlighted Anheuser-Busch’s EBITDA growth, the successful integration of SABMiller and the cost synergies related thereto.
According to the complaint, on October 25, 2018, Anheuser-Busch announced its financial results for the quarter and nine month periods ended September 30, 2018. Anheuser-Busch announced that it had slashed its dividend by 50% to “accelerate deleveraging toward our optimal capital structure of around a 2x net debt to EBITDA ratio.” Following this news, the price of Anheuser-Busch ADS declined approximately 9.5%, from $82.25 per ADS to $74.54 per ADS, erasing approximately $15 billion of Anheuser-Busch’s market capitalization.
The complaint alleges that, throughout the Class Period, the defendants failed to disclose, among other things, that: (i) cost-cutting measures Anheuser-Busch had put in place had run their course; (ii) the devaluation of key emerging market currencies and input cost inflation was having a material adverse effect on Anheuser-Busch’s margins, EBITDA and profitability; (iii) Anheuser-Busch had been experiencing less than expected growth and profits in certain key markets; (iv) Anheuser-Busch was not going to be able to maintain its then current dividend and still meet its deleveraging targets; and (v) Anheuser-Busch was at risk of having its credit ratings downgraded.
If you are a member of the class described above, you may no later than August 20, 2019 move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Returning the attached form or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-844-887-9500 or 1-610-667-7706, or via e-mail at firstname.lastname@example.org. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.
Kessler Topaz Meltzer & Check, LLP
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