Our securities attorneys are investigating claims on behalf of investors of National Beverage Corp., the maker of LaCroix sparkling water (NASDAQ: FIZZ), involving possible securities law violations.

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FIZZ Shares Drop after Company Withholds Information from SEC

On June 26, 2018, the Wall Street Journal published an article reporting that National Beverage had refused to provide information to the Securities and Exchange Commission in response to the agency’s request for more detail to clarify sales claims it had previously made in 2017.

Those claims, which were contained in two May 2017 press releases issued by National Beverage, stated that it “employs methods that no other company does in this area—VPO (velocity per outlet) and VPC (velocity per capita).” The company also asserted that it “utilize[s] two proprietary techniques to magnify these measures and this creates growth never before thought possible.” On May 5, 2017, National Beverage issued a second press release, stating that “[o]ur impressive VPO calculator . . . is flashing solid green numbers as we bring FY2017 to a close.”

Following the Wall Street Journal’s report of National Beverage’s refusal to comply with the SEC’s request, shares of FIZZ fell sharply during intraday trading to close more than 27% to close at $28.14 on June 27, 2018, thereby injuring investors.

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Michael Schrag

Michael has over 20 years of experience representing individuals in complex cases involving banking credit card and other financial frauds.