Naked Brand Group Ltd
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*Nasdaq FSI: *Deficient: Issuer Failed to Meet NASDAQ Continued Listing Requirements

Consumer Discretionary : Textiles, Apparel & Luxury Goods | Small Cap Value
Based in New Zealand
Company profile

Naked Brand Group Limited is a intimate apparel and swimwear company. The Company designs, manufactures and markets a portfolio of brands, catering to a broad cross-section of consumers and market segments. Its Brands include Naked, Bendon, Bendon Man, Davenport, Evollove, Fayreform, Hickory, Lovable, Pleasure State, Heidi Klum Intimates, Heidi Klum Man, and Heidi Klum Swim. The Company’s products are available in over 44 countries worldwide through around 6,000 retail doors. The Company’s brands are distributed through department stores, specialty stores, independent boutiques and third-party e-commerce sites globally, including Macy’s, Nordstrom, Saks Fifth Avenue, Harrods, Selfridges, and Amazon.

Closing Price
$0.55
Day's Change
-0.0276 (-4.78%)
Bid
--
Ask
--
B/A Size
--
Day's High
0.5892
Day's Low
0.5225
Volume
(Light)
Volume:
35,557,676

10-day average volume:
51,550,878
35,557,676

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in The Boston Beer Company, Inc. of Class Action Lawsuit and Upcoming Deadline - SAM

8:51 pm ET October 15, 2021 (PR Newswire) Print

Pomerantz LLP announces that a class action lawsuit has been filed against The Boston Beer Company, Inc. ("Boston Beer" or the "Company") (NYSE: SAM) and certain of its officers. The class action, filed in the United States District Court for the Southern District of New York, and docketed under 21-cv-08338, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Boston Beer securities between April 22, 2021 and September 8, 2021, inclusive (the "Class Period"). Plaintiff pursues claims against the Defendants under the Securities Exchange Act of 1934 (the "Exchange Act").

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If you are a shareholder who purchased Boston Beer securities during the Class Period, you have until November 15, 2021 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

[Click here for information about joining the class action]

Boston Beer is a high-end alcoholic beverage company that produces hard seltzer, malt beverages (i.e. beers), and hard cider at its cidery and under contractual arrangements at other brewery locations.

The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Boston Beer's hard seltzer sales were decelerating; (2) that, as a result, Boston Beer was reasonably likely to incur inventory write-offs; (3) that the Company was reasonably likely to incur shortfall fees payable to third party brewers; (4) that, as a result of the foregoing, Boston Beer's financial results would be adversely impacted; and (5) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On July 22, 2021, after the market closed, Boston Beer reduced its full year 2021 guidance, expecting earnings per share between $18 and $22, down from a prior range of $22 and $26. The Company cited softer-than-expected sales in the hard seltzer category and overall beer industry and also stated that it had "overestimated the growth of the hard seltzer category in the second quarter."

On this news, the Company's share price fell $246.54, or 26%, to close at $701.00 per share on July 23, 2021, on unusually heavy trading volume.

On September 8, 2021, after the market closed, Boston Beer withdrew its 2021 financial guidance, citing decelerating sales of hard seltzer products. The Company also stated that it "expects to incur hard seltzer-related inventory write-offs, shortfall fees payable to 3rd party brewers, and other costs" for the remainder of fiscal 2021.

On this news, the Company's share price fell $21.09, or 3.7%, to close at $538.31 per share on September 9, 2021, on unusually heavy trading volume.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com

CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com888-476-6529 ext. 7980

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View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-the-boston-beer-company-inc-of-class-action-lawsuit-and-upcoming-deadline--sam-301401631.html

SOURCE Pomerantz LLP

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comtex tracking

COMTEX_395295222/1005/2021-10-15T20:51:09

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