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SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Dutch Bros Inc. - BROS

/EIN News/ -- NEW YORK, March 20, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Dutch Bros Inc. (“Dutch” or the “Company”) (NYSE: BROS).   Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Dutch Bros and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On March 1, 2022, two-thirds of the way through the Company’s first quarter of 2022, Dutch Bros held a conference call to discuss its fourth quarter and full year 2021 results.  On the call, Dutch Bros’ officers made numerous statements reassuring investors that the Company’s first quarter 2022 results would be positive, and in particular that the Company’s margins were healthy.  For example, Jonathan Ricci (“Ricci”), the Company’s Chief Executive Officer (“CEO”) stated that, while Dutch Bros is “not immune to margin pressures,” the Company was “managing it appropriately” and that “we are feeling good as we enter ‘22 with the trajectory of our margins, given everything going on.”  Charles L. Jemley (“Jemley”), the Company’s Chief Financial Officer similarly stated that “we’re just not feeling compression in margins.” 

Then, on May 11, 2022, Dutch Bros issued a press release announcing poor financial results for the first quarter of 2022.  Explaining Dutch Bros’ poor performance, CEO Ricci cited the Company’s margins, explaining that “we did not perceive the speed and magnitude of cost escalation within the quarter.  Dairy, for example, which makes up 28% of our commodity basket, rose almost 25% in Q1.” 

On this news, Dutch Bros’ share price fell $9.26 per share, or 26.9%, to close at $25.11 per share on May 12, 2022.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980