U.S. Markets closed

National Beverage Lawsuit: Why FIZZ Stock Is Fizzling Today

Karl Utermohlen

National Beverage (NASDAQ:FIZZ) lawsuit is accusing the parent company of LaCroix of making unsubstantial claims regarding the safety of its sparkling water cans, which may be more harmful than the company’s president has let on.

National Beverage Lawsuit

Source: Flickr

The Fort Lauderdale, Fla.-based business is being hit with the suit in regards to statements from its president, who planned to falsely claim in April that its LaCroix cans did not contain the toxic chemical Bisphenol A, per the suit. The chemical is also known as BPA.

The National Beverage lawsuit adds that Albert Dejewski, who is a former LaCroix executive, was wrongfully fired less than 24 hours after expressing his objections to the alleged BPA proposal that was included in an email from the company’s president Joseph Caporella.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

The boss responded to Dejewski’s comments with an email that included a threat, which was followed by firing him over a phone call on April 11 that mentioned the BPA issue, per the lawsuit. The suit was filed on Thursday in Passaic Superior Court in New Jersey.

Caporella and National Beverage Corporation are mentioned as defendants in the lawsuit. The company and its attorneys have yet to respond to requests for comment, while attempts to reach Caporella by phone were not successful.

FIZZ stock was hit hard as it was sinking about 9% on Tuesday following the news, which came out today.

More From InvestorPlace

Compare Brokers

The post National Beverage Lawsuit: Why FIZZ Stock Is Fizzling Today appeared first on InvestorPlace.