An investigation was announced concerning potential securities laws violations by The Boston Beer Company, Inc. in connection with certain financial statements.
Investors who purchased shares of The Boston Beer Company, Inc. (NYSE: SAM), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on whether a series of statements by The Boston Beer Company, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Boston, MA based The Boston Beer Company, Inc. produces and sells alcohol beverages primarily in the United States. The Boston Beer Company, Inc. reported that its annual Total Revenue rose from over $1.24 billion in 2019 to over $1.73 billion in 2020, and that its Net Income increased from $110.04 million in 2019 to $191.96 million in 2020.
On September 8, 2021, after the market closed, the Boston Beer Company, Inc. announced that it was withdrawing its 2021 financial guidance issued on July 22, 2021 as a result of a decrease in demand for its hard seltzer products. The Company further disclosed that it expects to incur hard seltzer-related inventory write-offs, shortfall fees payable to 3rd party brewers, and other costs associated with the drop in demand during the remainder of fiscal year 2021.
Shares of The Boston Beer Company, Inc. (NYSE: SAM) declined from $1,059.04 per share on June 28, 2021, to $510.25 per share on September 9, 2021.
Those who purchased shares of The Boston Beer Company, Inc. (NYSE: SAM) have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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