NEW YORK, March 21, 2023 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer, LLP reminds investors that a complaint has been filed on behalf of investors who purchased or otherwise acquired the securities of Dutch Bros, Inc. (“Dutch Bros” or the “Company”) (NYSE: BROS) between March 1, 2022 and May 11, 2022, inclusive (the “Class Period”).
If you acquired Dutch Bros securities during the Class Period and would like to discuss this case, please click here. Or, you may contact us by emailing pmayer@kaplanfox.com or calling (646) 315-9003.
If you are a member of the proposed Class, you may move the court no later than May 2, 2023 to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process.
The complaint alleges that throughout the class period, the Company failed to disclose to investors that: (1) the Company was experiencing increased costs and expenses, including on dairy; (2) that, as a result, the Company was experiencing increased margin pressure and decreased profitability in the first quarter of 2022; and (3) that, as a result, the Company’s positive statements about its business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
According to the complaint, at the start of the Class Period on March 1, 2022, two-thirds of the way through the Company’s first quarter of 2022, Defendants held the Company’s fourth quarter conference call and reassured investors that the Company’s first quarter 2022 results would be positive and that the Company’s margins were healthy.
Then, on May 11, 2022, after the market closed, the Company issued a press release announcing its financial results for the first quarter of 2022 and reported a net loss of $16.3 million, compared to a net loss of $4.8 million for the first quarter of 2021. According to the complaint, during the Company’s conference call to discuss its first quarter 2022 results, the Company revealed that multiple factors compressed Dutch Bros’ margins during the first quarter, including dairy costs, which resulted in the Company’s expanded net loss.
Following this news, Dutch Bros’ share price fell $9.26, or 26.9%, to close at $25.11 per share on May 12, 2022.
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If you have any questions about this Notice, your rights, or your interests, please contact:
Pamela Mayer
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
