| COMPANY |
The Boston Beer Company, Inc, |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
21-cv-7693 |
| JUDGE |
The Honorable Vernon S. Broderick |
| CLASS PERIOD |
April 22, 2021 - September 8, 2021 |
| SECURITY TYPE |
All Securities |
Case Backround:
A class action lawsuit has been filed on behalf of those who purchased or acquired The Boston Beer Company, Inc. (“Boston Beer”) (NYSE: SAM) securities between April 22, 2021 and September 8, 2021, inclusive (the “Class Period”).
The complaint alleges that throughout the Class Period, the Defendants failed to disclose to investors that: (1) Boston Beer’s hard seltzer sales were decelerating; (2) as a result, Boston Beer was reasonably likely to incur inventory write-offs; (3) Boston Beer was reasonably likely to incur shortfall fees payable to third party brewers; (4) as a result of the foregoing, Boston Beer’s financial results would be adversely impacted; and (5) as a result of the foregoing, the defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Current Status of Case:
On December 6, 2022, the Court granted Defendants’ Motion to Dismiss. Lead Plaintiffs appealed the dismissal and on December 15, 2023, the Second Circuit Court of Appeals affirmed the Court’s dismissal. This action has concluded.
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: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. 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.