WILMINGTON, Del., June 28, 2019 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
- Do you, or did you, own American Depository Shares of Anheuser-Busch InBev SA/NV (NYSE: BUD)?
- Did you purchase your shares between March 1, 2018 and October 24, 2018, inclusive?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the American Depository Shares (“ADS”) of Anheuser-Busch InBev SA/NV (“Anheuser-Busch” or the “Company”) (NYSE: BUD) between March 1, 2018 and October 24, 2018, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased ADS of Anheuser-Busch during the Class Period and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Seth D. Rigrodsky or Timothy J. MacFall at Rigrodsky & Long, P.A., 300 Delaware Avenue, Suite 1220, Wilmington, DE 19801, by telephone at (888) 969-4242, by e-mail at info@rl-legal.com, or at http://rigrodskylong.com/contact-us/.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. Specifically, the Complaint alleges that the defendants concealed from the investing public: (1) that Defendants’ cost cutting measures had largely run their course; (2) that the devaluation of key emerging market currencies and input cost inflation was having a material adverse effect on the Company’s margins, EBITDA and profitability; (3) that Anheuser-Busch had been experiencing less than expected growth and profits in certain key markets; (4) that Anheuser-Busch was not going to be able to maintain its then current dividend and still meet its deleveraging targets; (5) that Anheuser-Busch was at risk of having its credit ratings downgraded; (6) that, as a result of the foregoing, Defendants lacked a reasonable basis for their positive statements about the Company’s dividend growth, its cost synergies, its liquidity, and Defendants’ then current efforts to deleverage Anheuser-Busch’s balance sheet; (7) that the liquidity and working capital disclosures in filings Anheuser-Busch made with the SEC were materially false and misleading; (8) that the risk factor disclosures in filings Anheuser-Busch made with the SEC were materially false and misleading; (9) that the representations about Anheuser-Busch’s disclosure controls in filings the Company made with the SEC were materially false and misleading; (10) that the certifications issued by its Chief Executive Officer and its Chief Financial and Solutions Officer on Anheuser-Busch’s disclosure controls and internal controls over financial reporting were materially false and misleading; and (11) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. As a result of defendants’ alleged false and misleading statements, the Company’s ADS traded at artificially inflated prices during the Class Period.
According to the Complaint, on October 25, 2018, the Company cut its dividend by 50% to “accelerate deleveraging toward [its] optimal capital structure of around 2x net debt to EBITDA ratio.” During a conference call on this same day with investors and analysts, the Company’s Chief Financial and Solutions Officer reaffirmed the need to cut the dividend due to “currency volatility.”
On this news, ADS of Anheuser-Busch declined over 9%, closing at $74.54 per ADS on October 25, 2018, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than August 20, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Rigrodsky & Long, P.A., with offices in Delaware, New York, and California, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in numerous cases nationwide, including federal securities fraud actions, shareholder class actions, and shareholder derivative actions.
Attorney advertising. Prior results do not guarantee a similar outcome.
CONTACT:
Rigrodsky & Long, P.A.
Seth D. Rigrodsky
Timothy J. MacFall
(888) 969-4242
(516) 683-3516
Fax: (302) 654-7530
info@rl-legal.com
http://www.rigrodskylong.com