Securities Class Action Investigation On Behalf Of Boston Beer Company Investors Who Acquired Their Shares After July 22, 2021 And Suffered Financial Losses
Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of The Boston Beer Company, Inc. (“Boston Beer” or the “Company”) (NYSE: SAM) to determine whether Boston Beer engaged in securities fraud or other unlawful business practices.
Post-market, on September 8, 2021, Boston Beer announced that the Company was withdrawing its 2021 financial guidance issued on July 22, 2021, as a result of the Company’s “belie[f] there will be continuing uncertainty about hard seltzer demand trends for the remainder of 2021.”
Boston Beer stated that “. . . the Company . . . expects to incur hard seltzer-related inventory write-offs, shortfall fees payable to 3rd party brewers, and other costs that will be expensed during the remainder of fiscal 2021. As a result, the Company currently expects full year 2021 earnings per diluted share will fall below the previously-reported estimate of between $18.00 and $22.00, excluding the impact of ASU 2016-09.”
On this news, Boston Beer’s share price fell approximately 10% during after-hours trading on September 8, 2021, thereby injuring investors.
BOSTON BEER INVESTORS WHO ACQUIRED THEIR SHARES AFTER JULY 22, 2021 AND SUFFERED LOSSES GREATER THAN $100,000 ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE OR CONTACT KEVIN CAULEY, DIRECTOR, CLIENT RELATIONS, (215) 792-6676, EXT. 802, [email protected], [email protected], TO DISCUSS THE CLASS ACTION INVESTIGATION OR POTENTIAL LEGAL CLAIMS.