Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Constellation Brands, Inc. (NYSE: STZ) securities.
If you suffered a loss on your Constellation investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Apr 11 2024 - Jan 08 2025
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.
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