Beyond Meat, Inc.
(NASDAQ GS: BYND)
Attention investors who purchased shares of Beyond Meat, Inc. between May 2, 2019 and January 27, 2020:
Rigrodsky & Long is investigating claims brought in a securities fraud class action complaint against Beyond Meat, Inc. ("Beyond Meat" or the "Company") concerning whether Beyond Meat and certain of the Company's directors and/or officers made materially false and misleading statements and failed to disclose materially adverse facts during the period of May 2, 2019 and January 27, 2020, inclusive (the "Class Period"), concerning Beyond Meat's business, operations, and prospects. These misrepresentations and omissions artificially inflated the price of Beyond Meat's shares throughout the Class Period.
Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Central District of California on behalf of all persons or entities that purchased the common stock of Beyond Meat, Inc. (“Beyond Meat” or the “Company”) (NASDAQ GS: BYND) between May 2, 2019 and January 27, 2020, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of Beyond Meat during the Class Period, or purchased shares prior to the Class Period and still hold Beyond Meat, and wish to discuss this action or have any questions concerning this notice or your rights, please contact Seth D. Rigrodsky or Timothy J. MacFall at Rigrodsky & Long, P.A., 300 Delaware Avenue, Suite 1220, Wilmington, DE 19801, by telephone at (888) 969-4242, or by e-mail at firstname.lastname@example.org.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations, and prospects. Specifically, the Complaint alleges that the defendants concealed from the investing public that: (i) Beyond Meat’s termination of its supply agreement with Don Lee Farms constituted a breach of that agreement, thus exposing the Company to foreseeable legal liability and reputational harm; (ii) Beyond Meat and certain of its employees had doctored and omitted material information from a food safety consultant’s report, which the Company represented as accurate to Don Lee Farms; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times. As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on January 27, 2020, post-market, Don Lee issued a press release entitled “Judge Rules Don Lee Farms Likely to Obtain a Judgment. Beyond Meat’s CFO and Others Named Individually for Fraud.” The press release stated, in part, that “[a] judge has ruled Don Lee Farms proved the probable validity of its claim that Beyond Meat breached its manufacturing agreement with Don Lee Farms” and that “[i]n a separate motion before a different Judge, the Court granted Don Lee Farms’ request to name Beyond Meat Chief Financial Officer Mark Nelson, Senior Quality Assurance Manager Jessica Quetsch and Director of Operations Anthony Miller in its fraud claims which allege they intentionally doctored and omitted material information from a food safety consultant’s report, and then delivered that doctored report to Don Lee Farms and affirmatively represented that it was the complete opinion of the consultant.”
On this news, shares of Beyond Meat fell over 3%, closing at $120.12 per share on January 28, 2020, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than March 30, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Rigrodsky & Long, P.A., with offices in Delaware and New York, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in numerous cases nationwide, including federal securities fraud actions, shareholder class actions, and shareholder derivative actions.
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