The complaint, spearheaded by the law firm Glancy Prongay Wolke & Rotter LLP, alleges that the company misled shareholders regarding the integration of its OWYN brand acquisition. Plaintiffs claim that management failed to disclose the departure of critical personnel essential to the merger, as well as the emergence of significant product quality issues stemming from a new pea protein supplier. According to the filing, these internal challenges forced the company to increase administrative spending and aggressively cut marketing budgets to mask margin erosion.

The litigation asserts that these undisclosed operational failures undermined the economic rationale for the OWYN acquisition, rendering the company’s public statements about its business prospects materially misleading. Investors seeking to participate in the litigation or serve as a lead plaintiff must contact the firm by the October deadline. While no class has been certified yet, affected shareholders retain the right to select their own counsel or remain as absent class members throughout the legal proceedings.