NEW YORK, Feb. 10, 2020 /PRNewswire/ -- Bernstein
Liebhard, a nationally acclaimed investor rights law firm,
announces that a securities class action has been filed on behalf
of investors that purchased or acquired the securities of Beyond
Meat Inc. ("Beyond Meat" or the "Company") (NASDAQ: BYND) between
May 2, 2019, and January 27, 2020 (the "Class Period"). The
lawsuit filed in the United States
District Court for the Central District of California alleges violations of the
Securities Exchange Act of 1934.
If you purchased Beyond Meat securities, and/or would like to
discuss your legal rights and options please visit Beyond Meat
Shareholder Class Action or contact Matthew
E. Guarnero toll free at (877) 779-1414 or
MGuarnero@bernlieb.com.
The Complaint alleges that throughout the Class Period,
Defendants made materially false and misleading statements
regarding the Company's business, operational and compliance
policies. Specifically, Defendants made false and/or misleading
statements and/or failed to disclose that: (i) Beyond Meat's
termination of its supply agreement with Don Lee 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
consultants report, which the Company represented as accurate to
Don Lee; and (iii) as a result, the
Company's public statements were materially false and misleading at
all relevant times.
On January 27, 2020, post-market,
Don Lee Farms issued a press release announcing that "Judge Rules
Don Lee Farms Likely to Obtain a Judgment. Beyond Meat's CFO and
Others Named Individually for Fraud." The release announced, among
other things, 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, Beyond Meat's stock price fell precipitously over
the next two trading days closing at $114.88 on January 29,
2020.
If you purchased Beyond Meat securities, and/or would like to
discuss your legal rights and options please visit
https://www.bernlieb.com/cases/beyondmeatinc-bynd-shareholder-class-action-lawsuit-stock-fraud-243/apply/
or contact Matthew E. Guarnero toll
free at (877) 779-1414 or MGuarnero@bernlieb.com.
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. Your ability to share in any
recovery doesn't require that you serve as lead plaintiff. If you
choose to take no action, you may remain an absent class
member.
Since 1993, Bernstein Liebhard LLP has recovered over
$3.5 billion for its clients. In
addition to representing individual investors, the Firm has been
retained by some of the largest public and private pension funds in
the country to monitor their assets and pursue litigation on their
behalf. As a result of its success litigating hundreds of lawsuits
and class actions, the Firm has been named to The National
Law Journal's "Plaintiffs' Hot List" thirteen times and
listed in The Legal 500 for ten consecutive
years.
ATTORNEY ADVERTISING. © 2020 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
MGuarnero@bernlieb.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/bynd-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-beyond-meat-inc-301001381.html
SOURCE Bernstein Liebhard LLP