NewAge Lawsuit NBEVQ | Deadline February 6, 2023
NewAge Class Action Lawsuit (NBEVQ Lawsuit)
A lawsuit has been filed in the District of Colorado against NewAge Inc., (NBEVQ:OTC) as the Company and Defendants never produced or sold a proprietary CBD beverage.
Investors who purchased or otherwise acquired NBEVQ common stock during the period from January 18, 2018 through October 18, 2022 can register their information before the deadline of February 6, 2023.
Is NewAge Involved in a Securities Class Action Lawsuit?
Yes, a lawsuit has been filed against NewAge Inc. on December 7, 2022, on behalf of shareholders during the period from January 18, 2022 through October 18, 2022.
What Is The NewAge Lawsuit About?
The NewAge Class Action Lawsuit (OTC:NBEVQ) (NewAge Class Action Lawsuit) was filed on behalf of the investors who purchased NewAge Inc. (NBEVQ) securities between January 18, 2018 through October 18, 2022. For more on the NBEVQ Lawsuit please contact us today.
According to the NewAge Inc. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:
(1) the Company and Defendants had no relationship with the military or FamilyMart;
(2) the Company and Defendants overstated the business agreements that they did have;
(3) the Company and Defendants never produced or sold a proprietary CBD beverage;
(4) the Company lacked adequate internal controls;
(5) as a result the Company had a heightened risk of regularly scrutiny and ultimately subject to an SEC investigation and action; and
(6) as a result of the foregoing, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
How much did NBEVQ stock drop?
Shareholders who held NBEVQ securities saw the stock went down 6% on each of the following trading days, from an opening price of $0.98 to a closing price of $0.9251 on January 11 and from an opening price of $0.935 to a closing price of $0.88 on January 12.
Moreover, the stock went down by 8%, from an opening price of $0.391 per share to $0.3591 per share.
Additionally, NewAge’s share price went down 12%, from $0.42 per share to $0.3703. Following that, the Company’s share price closed down 11% (the price per share dropped from $0.3605 to $0.3201 on the day), 5% (the price per share dropped from ($0.3112 per share to $0.2902 on the day), and 3% (the price per share dropped from $0.298 per share to $0.29 on the day.)
Furthermore, the stock closed down from an opening price of $0.2016 per share to $0.1222 per share. It September 2, 2022, closing down 27% further plummeted on , from an opening of $0.20 per share to $0.1482
In addition, NewAge stock closed down 9% on September 6, 2022 $ 0.125 .
Lastly, NewAge stock plummeted from an opening price of $0.175 per share to $0.0013 per share, or 93%.
What does NBEVQ Do?
NewAge, Inc. develops, markets, sells, and distributes healthy products in the United States, Japan, China, and internationally. The company operates in two segments, Direct / Social Selling and Direct Store.
It provides health and wellness, energy drink, essential oil and anti-aging skincare, cosmetic, beverage, snacks, water and air filtration, and personal care products, as well as weight management, nutritional supplement, nutraceutical, and slenderiize products; diagnostic products, such as DNA testing and diagnostic kits and products; and CBD products.
The company offers its products under the Tahitian Noni, LIMU, Zennoa, LIMU Blue Frog, Hiro Natural, TeMana, Lucim, Reviive, Puritii, and MaVie brands. It sells its products directly to customers, as well as through distributors, e-commerce sites, and direct-store-delivery systems.
The company was formerly known as New Age Beverages Corporation and changed its name to NewAge, Inc. in July 2020.
NewAge, Inc. was incorporated in 2010 and is headquartered in Denver, Colorado.
On August 30, 2022, NewAge, Inc. along with its affiliates, filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware.
Which Class Action Attorney Firm Can Help With The NBEVQ Lawsuit?
Levi & Korsinsky LLP is a Securities Class Action Law Firm. For over 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
Does It Cost Me To Join The NBEVQ Class Action?
No, there are no out of pocket costs for you to join NewAge Lawsuit.
What Is the Lead Plaintiff Process?
According to the Private Securities Reform Act of 1995, any investor who bought or acquired NBEVQ securities in the Class Period may apply for appointment as a lead plaintiff. The lead plaintiff is usually the movant who has the most financial interest in the relief sought. However, he or she must also be typical or adequate to the putative classes. The NBEVQ class action lawsuit is directed by the lead plaintiff. To litigate the NewAge Class Action Lawsuit, the lead plaintiff may choose any law firm it wishes. The ability of an investor to share in any future recovery is not tied to being the lead plaintiff in the NewAge Class Action Lawsuit.
Have other shares in other companies? Search Class Action Cases.
Co-Diagnostics, Inc. Class Action Lawsuit
Co-Diagnostics, Inc. Lawsuit
CODX Class Action Lawsuit
Co-Diagnostics, Inc. (CODX) Class Action Lawsuit