LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against NewAge, Inc. (“NewAge” or “the Company”) (OTC: NBEVQ) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between January 18, 2018 and October 18, 2022, inclusive (the ”Class Period”), are encouraged to contact the firm before February 6, 2023.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. NewAge did not enter a “distribution agreement” or “initiative in partnership” with the U.S. military and did not have plans to sell its products in military commissaries and exchanges. The Company failed to produce sufficient inventory to support such an agreement. The Company failed to expand its product lineup or develop distribution agreements. The Company failed to maintain sufficient internal controls. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about NewAge, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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