National Beverage Corp (FIZZ) Accused of Making Misleading Statements
According to the filed class action complaint, National Beverage Corp (FIZZ) touted its revenue and asserted that it “utilize two proprietary techniques… creates growth never before thought imaginable.” The company also flaunted its Code of Ethics, which promoted a positive work environment and prohibited any type of harassment. However, these statements were false and misleading because National Beverage failed to disclose that its “proprietary techniques” lacked a verifiable basis – even after being questioned by the U.S. Securities and Exchange Commission, and its Chairman and Chief Executive Officer has been sued for engaging in a pattern of sexual misconduct between 2014 and 2016.
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