NEW ORLEANS, March 14, 2023 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds 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.
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Dutch Bros investors should visit us at https://claimsfiler.com/cases/nyse-bros/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
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.
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ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
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