NEW ORLEANS, March 17, 2023 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 1, 2023 to file lead plaintiff applications in a securities class action lawsuit against Dutch Bros Inc. (“Dutch” or the “Company”) (NYSE: BROS), if they purchased the Company’s securities between March 1, 2022 and May 11, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased securities of Dutch and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-bros/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 1, 2023.
About the Lawsuit
Dutch Bros and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 11, 2022, the Company disclosed dismal 1Q2022 financial results including a net loss of $16.3 million, compared to a net loss of $4.8 million for the first quarter of 2021 and an adjusted net loss of $2.5 million (a loss of $0.02 per share), which fell below analysts’ expectations, due to its failure to “perceive the speed and magnitude of cost escalation within the quarter,” among other things.
On this news, shares of Dutch fell $9.26, or 26.9%, to close at $25.11 per share on May 12, 2022.
The case is Peacock v. Dutch Bros Inc., et al., No. 23-cv-01797.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 960
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC