- Food
- Thursday, 30 Jan 2020
BYND LOSSES ALERT: Bernstein Liebhard Announces that it is Investigating Beyond Meat Inc., and Encourages Investors with Substantial Losses to Contact the Firm
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.
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