NEW YORK, February 4, 2023 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against NewAge, Inc. (“NewAge” or the “Company”) (OTC: NBEVQ, NASDAQ: NBEV ) and reminds investors of the February 6, 2023 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you have incurred losses exceeding $100,000 invest in NewAge shares or options between January 18, 2018 And October 18, 2022 and want to discuss your legal rights, call partner Faruqi & Faruqi Josh Wilson directly To 877-247-4292 Or 212-983-9330 (ext. 1310). You can also click here for more information: www.faruqilaw.com/NBEVQ.
There is no cost or obligation for you.
Faruqi & Faruqi is a leading national minority and women-owned securities law firm, with offices in new York, Pennsylvania, California And Georgia.
According to the lawsuit, the defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that: (1) NewAge never entered into a distribution” or “initiative in partnership” with the military and never intended to sell its products in all the stores and exchanges of the world; (2) NewAge did not have an adequate inventory of its products to fulfill this reported agreement; (3) NewAge has not actually expanded its product lines or distribution arrangements as depicted; (4) the Company did not have adequate internal controls; (5) as a result, the Company was at increased risk of being regularly scrutinized and ultimately subject to investigation and action by the SEC; and (6) as a result of the foregoing, defendants’ statements regarding its business, operations and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times. When the real details entered the market, the lawsuit claims investors suffered damages.
The court-appointed lead plaintiff is the investor with the greatest financial interest in the relief sought by the class that is adequate and typical of the class members directing and supervising the litigation on behalf of the putative class. Any member of the putative class may ask the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent member of the class. Your ability to participate in any collection is not affected by whether or not to serve as lead plaintiff.
Faruqi & Faruqi, LLP also encourages anyone with information regarding the conduct of NewAge to contact the company, including whistleblowers, former employees, shareholders and others.
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