SHAREHOLDER ALERT: The Law Offices of Timothy L. Miles Announces Beyond Meat, Inc. (BYND) Sued for Misleading Shareholders; Beyond Meat Shareholders Urged to Contact the Firm
HENDERSONVILLE, TN / ACCESSWIRE / February 5, 2020 / The Law Offices of Timothy L. Miles, who has been leading the fight to protect shareholder rights for over 18 years, announces that a purchaser of Beyond Meat, Inc. (BYND) filed a class action complaint against the Company for alleged violations of the Securities Exchange Act of 1934 between May 2, 2019 and January 27, 2020. Beyond Meat is a food company that provides plant-based meats.
Beyond Meat Inc. (BYND) Accused of Breach of Contract and Fraud
According to the complaint, in 2014, Beyond Meat entered into an exclusive supply agreement with Don Lee Farms ("Don Lee") to produce all of Beyond Meat's products. However, in early 2017, Beyond Meat terminated the supply agreement and transferred its production from Don Lee to other food manufacturers. As a result, on May 25, 2017, Don Lee filed a complaint against Beyond Meat alleging breach of contract, misappropriation of trade secrets, and unfair competition. As the litigation proceeded, Don Lee further alleged it found plastics, cardboard, and even a metal nozzle in ingredients that Beyond Meat supplied. Consequently, in March 2019, Don Lee added fraud claims that Beyond Meat had altered a copy of a food-safety audit of its manufacturing facilities and gave it to Don Lee. Beyond Meat consistently denied these claims, however, on January 27, 2020, Don Lee revealed in a press release that a judge had ruled it proved probable validity that Beyond Meat had breached its manufacturing agreement. On this news, Beyond Meat's stock price fell almost 4% to close at $120.12 per share. The stock continues to decline.
Beyond Meat Shareholders Urged to Contact the Firm
If you purchased Beyond Meat securities, have information, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Timothy L. Miles, Esquire, at 615-587-7384, Toll-Free at 855-846-6529, or by email to tmiles@timmileslaw.com. If you inquire by email please include your mailing address, telephone number, and the number shares owned.
About Timothy L. Miles
Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely selected by Martindale-Hubbell® and ALM as a 2019 Top Ranked Lawyer; 2019 Top Rated Litigator; and a 2019 Elite Lawyer of The South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Awards: Top Rated Litigator by Martindale-Hubbell® and ALM (2019); 2019 Elite Lawyer of The South by Martindale-Hubbell® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV® Preeminent™ Rating by Martindale-Hubble® (2014-2020); PRR AV Preeminent Rating on Lawyers.com (2017 & 2019); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble® 2015); Lifetime Achievement Award by Premier Lawyers of America (2019); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for 2017 & 2018 (Avvo). Mr. Miles has authored numerous publications advocating for shareholdings including most recently: Free Portfolio Monitoring Services Offered by Plaintiff Securities Firms Provides Significant Benefits To Investors (Timothy L. Miles, Dec. 3, 2019).
Contact:
Timothy L. Miles, Esq.
Law Offices of Timothy L. Miles
124 Shiloh Ridge
Hendersonville, TN 37075
Telephone: (855-846-6529)
Email: tmiles@timmileslaw.com
Website: www.timmileslaw.com
SOURCE: The Law Offices of Timothy L. Miles
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