| COMPANY |
Anheuser-Busch InBev SA/NV |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
19-cv-05854 |
| JUDGE |
The Hon. Alvin K. Hellerstein |
| CLASS PERIOD |
March 1, 2018 - October 24, 2018 |
| SECURITY TYPE |
American Depository Shares |
Case Background:
On June 21, 2019, the initial complaint in this securities class action was filed against Anheuser-Busch InBev SA/NV (“Anheuser-Busch” or the “Company”), and certain of Anheuser-Busch’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act.
The complaint alleges that during the class period, defendants made materially false and misleading statements and/or failed to disclose adverse information regarding Anheuser-Busch’s business, operations and prospects. Specifically, the Complaint alleges that defendants failed to disclose, among other things, that cost-cutting measures the Company had put in place had run their course; the devaluation of key emerging market currencies and input cost inflation was having a material adverse effect on the Company’s margins, EBITDA and profitability; Anheuser-Busch had been experiencing less than expected growth and profits in certain key markets; Anheuser-Busch was not going to be able to maintain its then current dividend and still meet its deleveraging targets; and Anheuser-Busch was at risk of having its credit ratings downgraded. As a result of this information being withheld from the market, the price of Anheuser-Busch ADSs was artificially inflated to as high as $117.06 per ADS during the Class Period.
This is a federal securities class action brought on behalf of all purchasers of Anheuser-Busch American Depositary Shares, each of which represents one of the Company’s ordinary shares, between March 1, 2018 and October 24, 2018, inclusive.
Current Status of Case:
On December 12, 2019, Plaintiff filed an amended complaint (the “Amended Complaint”). Defendants filed a Motion to Dismiss the Amended Complaint on February 20, 2020. On September 29, 2020, the Court issued an Order granting Defendants' Motion to Dismiss and entered Final Judgment on September 30, 2020. There is no record of an Appeal to the Second Circuit. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.