New York, New York--(Newsfile Corp. - March 10, 2023) - Scott+Scott Attorneys at Law LLP ("Scott+Scott"), an international shareholder and consumer rights litigation firm, is reminding investors that the deadline to move for lead plaintiff in a securities class action lawsuit against Dutch Bros, Inc. (NYSE: BROS) ("Dutch Bros" or the "Company") and certain other defendants (collectively, "Defendants") is May 1, 2023.
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The action, which was filed in the U.S. District Court for the Southern District of New York asserts claims under §§10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") on behalf of a Class consisting of all persons who purchased or otherwise acquired Dutch Bros securities between March 1, 2022 and May 11, 2022, inclusive (the "Class Period"), and who were damaged thereby (the "Class").
According to the complaint, during the Class Period, Defendants made materially false and/or misleading statements, and failed to disclose material adverse facts about the Company's business operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company was experiencing increased costs and expenses, including on dairy; and (2) that, as a result, the Company was experiencing increased margin pressure and decreased profitability in the first quarter of 2022, among other things.
When the truth emerged, according to the Complaint, Dutch Bro's share price fell $9.26 per share, or 26.9%, to close at $25.11 per share on May 12, 2022, thereby injuring investors.
Lead Plaintiff Deadline
The Lead Plaintiff deadline in this action is May 1, 2023. Any member of the proposed Class may seek to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed Class.
What You Can Do
If you purchased Dutch Bros securities during the Class Period, and suffered damages, realized or unrealized, you are encouraged to contact Scott+Scott attorney Jonathan Zimmerman at (888) 398-9312, or jzimmerman@scott-scott.com, for more information.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, Virginia, California, and Ohio.
Attorney Advertising
CONTACT:
Scott+Scott Attorneys at Law LLP
Jonathan Zimmerman
(888) 398-9312
jzimmerman@scott-scott.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/157982
