Lead Plaintiff Deadline 04/1/2023
Dutch Bros Inc.
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Dutch Bros, Inc. (“Dutch Bros” or the “Company”) (NYSE: BROS) securities during the period from March 1, 2022 through May 11, 2022 (the “Class Period”). Investors have until May 1, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Dutch Bros operates and franchises drive-thru shops that focus on serving hand-crafted beverages.
On May 11, 2022, the Company issued a press release announcing its financial results for the first quarter of 2022. Therein, the Company reported a net loss of $16.3 million, compared to a net loss of $4.8 million for the first quarter of 2021. The Company also reported an adjusted net loss of $2.5 million (a loss of $0.02 per share), which fell below estimated earnings of $0.01 per share. On this news, the price of Dutch Bros shares declined by $9.26 per share, or approximately 26.94%, from $34.37 per share to close at $25.11 on May 12, 2022.
The lawsuit alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose that: (1) that the Company was experiencing increased costs and expenses, including on dairy; and (2) that, as a result, the Company was experiencing increased margin pressure and decreased profitability in the first quarter of 2022.