A class action lawsuit filed against Boston Beer Co. accuses Boston Beer of misleading shareholders about sales of its hard seltzer products.
After issuing an upbeat profits report in April, Boston Beer said last month that it had “overestimated the growth of the hard seltzer category” and that it expected that error to reduce second quarter earnings. The announcement triggered a slump in the company’s shares, falling 26% the day after the July announcement.
Kehoe Law Firm of Philadelphia and New York has invited any shareholder who might have lost more than $100,000 because of the share price slump to join a class action to seek redress from the company.
More details here.