INVESTOR ALERT: Kirby McInerney LLP Reminds Investors that Securities Class Action Lawsuits Have Been Filed on Behalf of The Boston Beer Company, Inc. (SAM), The Honest Company, Inc. (HNST), and Waterdrop Inc. (WDH) and Encourages Investors to Contact the Firm



INVESTOR ALERT: Kirby McInerney LLP Reminds Investors that Securities Class Action Lawsuits Have Been Filed on Behalf of The Boston Beer Company, Inc. (SAM), The Honest Company, Inc. (HNST), and Waterdrop Inc. (WDH) and Encourages Investors to Contact the Firm

NEW YORK, Oct. 13, 2021 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that securities class action lawsuits have been filed on behalf of stockholders of The Boston Beer Company, Inc., The Honest Company, Inc., and Waterdrop Inc. Investors have until the deadlines below to apply to the Court to be appointed as lead plaintiff in the lawsuits. Additional information about each case can be found at the links provided below.

The Boston Beer Company, Inc. (“Boston Beer” or the “Company”) (NYSE: SAM)

Class Period: April 22, 2021 to September 8, 2021
Pending Court: U.S. District Court for the Southern District of New York
Lead Plaintiff Deadline: November 15, 2021

The lawsuit alleges 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.

For additional information on the Boston Beer lawsuits please visit this website.

The Honest Company, Inc. (“Honest” or the “Company”) (NASDAQ: HNST)

Class Period: May 3, 2021 to September 15, 2021
Pending Court: U.S. District Court for the Central District of California
Lead Plaintiff Deadline: November 15, 2021

The lawsuit alleges that the Registration Statement was materially false and misleading and omitted: (1) that, prior to the IPO, the Company’s results had been significantly impacted by a multimillion-dollar COVID-19 stock-up for products in the Diapers and Wipes category and Household and Wellness category; (2) that, at the time of the IPO, the Company was experiencing decelerating demand for such products; (3) that, as a result, the Company’s financial results would likely be adversely impacted; and (4) 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.

For additional information on the Honest lawsuits please visit this website.

Waterdrop Inc. (“Waterdrop” or the “Company”) (NYSE: WDH)

Class Period: May 4, 2021 to September 14, 2021
Pending Court: U.S. District Court for the Southern District of New York
Lead Plaintiff Deadline: November 15, 2021

The lawsuit alleges that the IPO’s Registration Statement failed to disclose that Waterdrop was the subject of an intense regulatory investigation and pending crackdown by Chinese authorities because of a variety of market abuses perpetrated by Waterdrop used to artificially inflate Waterdrop’s short-term financial results in the lead up to the IPO, including, among other things: (i) operating insurance platforms without proper governmental authorizations; (ii) mispricing risks for consumers; and (iii) illicitly using client information. The Waterdrop class action lawsuit further alleges that, unbeknownst to investors, the reason that Waterdrop had discontinued its mutual aid segment was because it had been ordered to do so by Chinese regulators. Furthermore, Waterdrop had suffered rapidly accelerating operating losses in the first quarter of 2021 which was completed weeks before the IPO.

For additional information on the Waterdrop lawsuit please visit this website.

About Kirby McInerney LLP:

Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
(212) 371-6600
investigations@kmllp.com
www.kmllp.com

 



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