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SAN FRANCISCO, Sept. 30, 2016 -- Hagens Berman Sobol Shapiro LLP alerts investors in National Beverage Corp. to the firm’s investigation into possible securities law violations by the Company and certain senior executives.
If you purchased or otherwise acquired securities of FIZZ before September 26, 2016 and suffered over $50,000 in losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/FIZZ
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing [email protected].
On September 28, 2016, the price of FIZZ shares fell by over 8% on unusually heavy volume in response to a Glaucus Research Group report detailing its conclusion that National Beverage Corp. manipulated its earnings for years.
According to the Glaucus report, a former attorney and trusted advisor of the National Beverage Corp. CEO (Nick Caporella) testified under oath that Caporella admitted “that he manipulated earnings… by creating fake invoices.” There were many other disturbing items Glaucus included within its report. If true, Caporella’s actions implicate potential accounting fraud and securities law violations.
“We’re evaluating the cited documents in the context of National Beverage Corp.’s historical financial results that it reported to investors,” said Hagens Berman partner Reed Kathrein. “Smoothing earnings and generating fake invoices are obviously violations of generally applicable accounting principles and the securities laws.”
Whistleblowers: Persons with non-public information regarding National Beverage Corp. should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email. [email protected].
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. Read the Firm’s Securities Newsletter, and visit the blog. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact: Reed Kathrein, 510-725-3000
