SHAREHOLDER ALERT: Pomerantz law firm investigating claims on behalf of…

SHAREHOLDER ALERT: Pomerantz law firm investigating claims on behalf of…

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NEW YORK, May 21, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Beyond Meat, Inc. (“Beyond Meat” or the “Company”) BYND. Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

The investigation addresses whether Beyond Meat and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

On October 22, 2021, Beyond Meat announced that the company was lowering its third-quarter net sales guidance by as much as $34 million, or 25%. As part of the announcement, Beyond Meat also disclosed that the company’s spending and inventory levels continue to rise.

As a result of this news, Beyond Meat’s stock price fell $12.82 per share, or nearly 12%, to close at $95.80 per share.

On November 10, 2021, Beyond Meat announced a $1.8 million write-down of unsold inventory.

As a result of this news, Beyond Meat’s stock price fell $12.55 per share, or nearly 13%, to close at $81.93 per share.

On November 17, 2021, Bloomberg published an article about the production delays and execution challenges faced by Beyond Meat. Former employees reported that there were “significant internal problems” stemming from “confusion and misalignment…”. [and] delayed decision-making” which was accompanied by exacerbated production delays.

As a result of this news, Beyond Meat’s stock price fell $3.01 per share, or more than 3.5%, to close at $80.97 per share.

On December 9, 2021, after the market closed, multiple media sources reported that Taco Bell had canceled a scheduled Beyond Meat product test due to ongoing quality concerns.

As a result of this news, Beyond Meat’s stock price fell $5.58 per share, or nearly 8%, to close at $64.51 per share.

Finally, on October 14, 2022, Beyond Meat announced the resignations of several top executives, including the company’s Chief Operating Officer, Chief Growth Officer…



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