THE LAWSUIT: A class action securities lawsuit was filed against Constellation Brands, Inc. (STZ) that seeks to recover losses of Constellation shareholders who were adversely affected by alleged securities fraud between April 11, 2024 and January 8, 2025
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CASE DETAILS: According to the complaint, defendants provided investors with material information concerning Constellation’s full year 2024 fiscal results and financial outlook for 2025 which was based in material part on defendants enhanced focus on improving mix, inventory and sales execution in its Wine and Spirits business, specifically focusing efforts within its premium and above brands to drive more consistent growth. Additionally, defendants made investments in media spend and price promotions as well as adjustments in sales capabilities to support distributor partners.
On January 8, 2025 defendants issued a press release announcing the Company’s third quarter fiscal year 2025 results. In pertinent part, defendants presented a significant miss on sales performance in the Beer segment and an even steeper miss for the Wine & Spirits.
Following this news, the price of Constellation’s common stock declined dramatically. From a closing market price of $219.28 per share on January 8, 2025 to $181.81 per share on January 10, 2025.
WHAT’S NEXT? If you suffered a loss in Constellation stock during the relevant time frame – even if you still hold your shares – go to https://zlk.com/pslra-1/constellation-brands-inc-lawsuit-submission-form?wire=18 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/
