Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, May 15, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Beyond Meat, Inc. (NasdaqGS: BYND), investors that a lawsuit filed on behalf of investors that purchased Beyond Meat, Inc. securities (NasdaqGS: BYND) between May 5, 2020 and October 13, 2022, both dates inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
During the defined period, Beyond Meat and certain executives face allegations of violating federal securities laws by failing to disclose important information. On November 10, 2021, after the market closed, the company revealed a $1.8 million inventory write-off due to Covid-19-related effects. Consequently, Beyond Meat's shares experienced a decline of $12.55 per share, equivalent to almost 13%, resulting in a closing price of $81.93 per share on November 11, 2021. Additionally, media reports on December 9, 2021, stated that Taco Bell had canceled a planned test of Beyond Carne Asada due to concerns about product quality. This news caused a drop of $5.58 per share, or roughly 8%, with Beyond Meat's shares closing at $64.51 per share on December 10, 2021. Lastly, on October 14, 2022, before the market opened, the company disclosed the departure of its COO, CFO, and CGO. This announcement resulted in a decrease of $1.43 per share, representing more than 9.6%, and the shares closed at $13.35 per share on October 14, 2022.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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