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Investigation announced for Long-Term Investors in shares of NewAge, Inc. (OTC: NBEVQ)

03-21-2023 03:56 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of current long term investors in NewAge, Inc. (OTC: NBEVQ) shares.

An investigation on behalf of current long term investors in NewAge, Inc. (OTC: NBEVQ) shares.

An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of NewAge, Inc..

Investors who are current long term investors in NewAge, Inc. (OTC: NBEVQ) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in OTC: NBEVQ stocks follows a lawsuit filed against NewAge, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in OTC: NBEVQ stocks, concerns whether certain NewAge directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the District of Colorado the plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose, among other things, that NewAge, Inc never entered into a "distribution agreement" or "initiative in partnership" with the military and never had plans to sell its products at all commissaries and exchanges around the world, that NewAge, Inc did not have adequate inventory of its products to fulfill this reported agreement, that NewAge, Inc not actually expand its product lines or distribution agreements as represented, that the Company lacked adequate internal controls, that as a result the Company had a heightened risk of regularly scrutiny and ultimately subject to an SEC investigation and action, and that as a result of the foregoing, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of NewAge, Inc. (OTC: NBEVQ) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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