Archived Investigations

Beyond Meat, Inc. (NasdaqGS: BYND)

Company Name:Beyond Meat, Inc.
Stock Symbol:NasdaqGS: BYND
Court:Central District of California
Class Period Start:05/05/2020
Class Period End (inclusive):10/13/2022
Filing Deadline:The deadline has passed.
May 12, 2023

Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 10, 2023 to file lead plaintiff applications in a securities class action lawsuit against  Beyond Meat, Inc. (NasdaqGS: BYND).

Beyond Meat and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

On November 10, 2021, post-market, the Company disclosed a $1.8 million inventory write-off, which it attributed to effects from Covid-19. On this news, shares of Beyond Meat fell $12.55 per share, or nearly 13%, to close at $81.93 per share on November 11, 2021.  Then, on December 9, 2021, media sources reported that Taco Bell had cancelled a planned test of Beyond Carne Asada due to ongoing quality concerns. On this news, shares of Beyond Meat fell $5.58 per share, or nearly 8%, to close at $64.51 per share on December 10, 2021. Finally, on October 14, 2022, pre-market, the Company disclosed the departure of its COO, CFO and CGO.

On this news, shares of Beyond Meat fell $1.43 per share, or over 9.6%, to close at $13.35 per share on October 14, 2022.

The case is Retail Wholesale Department Store Union Local 338 Retirement Fund v. Beyond Meat, Inc., No. 23-cv-3602.

Click here to read the first filed complaint.