National Beverage Corp. shares closed Tuesday down nearly 5% after a complaint was filed New Jersey alleging that the company "planned to falsely state in April that its sparkling water cans were BPA-free," months ahead of when the BPA-free cans were actually going to be produced. National Beverage brands include LaCroix, which has seen its sales decline thanks to heightened competition and other factors. National Beverage said in a statement sent to MarketWatch that it began moving LaCroix to BPA-free liners two years ago and as of April 2019 the beverages are made in cans without BPA liners. "The FDA has stated BPA liners are safe and pose no risk at the trace levels found from its use in can linings of food and beverage products," the statement said. "False statements were made in litigation brought by a former employee seeking to extract a monetary recovery from the company. We intend to vigorously defend our company and our brands against false claims brought by this disgruntled former employee." National Beverage stock slumped to its lowest point since 2016, and has fallen 37.4% for the year to date. The S&P 500 index has gained 15.1% for 2019 so far.