NEW YORK, March 17, 2023 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is reminding investors that class action lawsuits can be filed on behalf of Dutch Bros Inc. BROSLumen Technologies, Inc. LUMINand Vertex Energy, Inc. VTNRand Fidelity National Information Services, Inc. FIS. Shareholders have until the deadlines below to petition the court to appear as lead plaintiffs. For more information on each case, see the link provided.

Dutch Bros. Inc. BROS

Class period: March 1, 2022 – May 11, 2022

Lead Plaintiff Deadline: May 1, 2023

Dutch Bros operates and sells drive-through coffee shops. The Company also sells and distributes coffee and coffee-related products and supplies. The company claims that as of March 31, 2022, it had 572 operating stores in 12 states, of which 310 were company-operated and 262 were franchised stores.

On March 1, 2022, two-thirds of the Company’s first quarter in 2022, Dutch Bros held a conference call to discuss fourth quarter and full year 2021 results. During the conference call, defendants made numerous statements, assuring investors that the company’s results for the first quarter of 2022 would be positive and, in particular, that the company’s margins were healthy. For example, defendant Jonathan “Joth” Ricci (“Ricci”), the company’s chief executive officer (“CEO”), stated that while Dutch Bros is “not immune to margin pressures,” the company “manages it appropriately” and that “We feel good about entering 22 with the trajectory of our margins considering what’s going on.” Defendant Charles L. Jemley (“Jemley”), the company’s Chief Financial Officer (“CFO”), similarly stated, “We just don’t feel any pressure on margins.”

However, on May 11, 2022, after the market close, the company issued a press release announcing poor financial results for the first quarter of 2022. In it, the company reported a net loss of $16.3 million compared to a…