San Diego, CA -- (SBWire) -- 09/08/2023 --An investigation was announced concerning potential breaches of fiduciary duties by certain directors of Beyond Meat, Inc.
Investors who are current long term investors in Beyond Meat, Inc. (NASDAQ: BYND) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: BYND stocks follows a lawsuit filed against Beyond Meat, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: BYND stocks, concerns whether certain Beyond Meat, Inc. directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the Defendants made numerous materially false and misleading statements and omissions concerning the Company's ability to produce plant-based meats at scale. Specifically, Defendants repeatedly assured investors that Beyond Meat conducted "extensive testing" to "ensure manufacturability" of its plant-based meat products at commercial scale, and touted the success of the Company's product tests with its large-scale partnerships as "very positive."
Further, the plaintiff alleges that the Defendants blamed any delays in launching these large-scale partnerships on Covid-19, and that in reality, Beyond Meat, Inc. struggled to manufacture its meat substitutes at scale to the specifications of its partners.
The plaintiff claims that according to current and former employees of the Company, Beyond Meat, Inc. suffered from widespread scaling issues, misaligned and delayed decision-making, and severe production delays, that these problems led some partners to balk at the high price of Beyond Meat's products and express doubts about the Company's ability to produce them at commercial scale, and that as a result of Defendants' misrepresentations and omissions, Beyond Meat common stock traded at artificially inflated prices between May 5, 2020 and October 13, 2022.
Those who purchased shares of Beyond Meat, Inc. (NASDAQ: BYND) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, 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, investigation, and/or settlements are not filed/reached and/or 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.
NASDAQ:BYND Long Term Shareholder Notice: Investigation over Potential Wrongdoing at Beyond Meat, Inc.
An investigation on behalf of current long-term investors in Beyond Meat, Inc. (NASDAQ:BYND) shares over possible breaches of fiduciary duty by certain officers and directors was announced.