NewAge, Inc. Class Action Lawsuit - NBEV; NBEVQ

4 days left to seek lead plaintiff status

Case Summary

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The NewAge class action lawsuit seeks to represent purchasers of NewAge, Inc. (NASDAQ: NBEV; OTC: NBEVQ) securities between January 18, 2018 and October 18, 2022, inclusive (the “Class Period”).  Captioned Clifton v. Willis, No. 22-cv-03161 (D. Colo.), the NewAge class action lawsuit charges certain NewAge top executives and directors with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the NewAge class action lawsuit, please provide your information in the form on this page.  You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com.  Lead plaintiff motions for the NewAge class action lawsuit must be filed with the court no later than February 6, 2023.

CASE ALLEGATIONS: NewAge purports to produce and sell various beverages and other health products. 

The NewAge class action lawsuit alleges that throughout the Class Period, defendants failed to disclose that: (i) NewAge and defendants had no relationship with the military or FamilyMart, a major Japanese retailer that purportedly placed an order with NewAge to sell NewAge’s cannabidiol (“CBD”) beverage products in 15,000 of its outlets; (ii) NewAge and defendants overstated the business agreements that they did have; (iii) NewAge and defendants never produced or sold a proprietary CBD beverage; (iv) NewAge lacked adequate internal controls; and (v) as a result, NewAge had a heightened risk of regular scrutiny and ultimately subject to a U.S. Securities and Exchange Commission investigation and action.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased NewAge securities during the Class Period to seek appointment as lead plaintiff in the NewAge class action lawsuit.  A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.  A lead plaintiff acts on behalf of all other class members in directing the NewAge class action lawsuit.  The lead plaintiff can select a law firm of its choice to litigate the NewAge class action lawsuit.  An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the NewAge class action lawsuit.

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases.  The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering nearly $2 billion for investors in 2021 – more than triple the amount recovered by any other plaintiffs’ firm.  With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.

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