BellRing Brands, Inc. Class Action Lawsuit – BRBR

Introduction to BellRing Brands, Inc. (BRBR) Securities Class Action Lawsuit

A securities fraud class action, under the Securities Exchange Act of 1934, asserting violations of Sections 10(b) and 20(a) has been filed against BellRing Brands, Inc. (NYSE: BRBR), a publicly traded company listed on the New York Stock Exchange (NYSE: BRBR) covering November 19, 2024 through August 4, 2025, the Class Period. Investors allege the company misrepresented the strength, sustainability, and drivers of its sales growth and downplayed rising competition in the ready-to-drink protein shakes category.

According to the complaint, sales were buoyed by key customers stockpiling inventory, masking eroding market share and weak end-consumer demand. The truth surfaced when management later disclosed retailer destocking and heightened competitive pressure. Investors experienced sharp losses after disclosures in May and August 2025.

BellRing Brands, Inc. (BRBR) Securities Lawsuit Case Details

Case Name: Denha v. BellRing Brands, Inc. et al.

Case No.: 1:26-cv-575

Jurisdiction: U.S. District Court, Southern District of New York

Filed on: January 22, 2026

BellRing Brands, Inc. (BRBR) Company Profile

BellRing develops, markets, and sells "convenient nutrition" products, including ready-to-drink protein shakes, powders, bars, and other protein foods, primarily under the Premier Protein brand, with a secondary brand, Dymatize. The company operates an asset-light model, relying on third-party manufacturers, and is headquartered in St. Louis, Missouri and selling through club, including key club retailers, grocery, mass, pharmacy, e-commerce, specialty, and convenience channels.

BellRing Brands, Inc. (BRBR) Securities Lawsuit Class Period

November 19, 2024-August 4, 2025, inclusive.

Persons and entities that purchased or otherwise acquired BellRing securities (NYSE: BRBR) during this period and were damaged thereby may be eligible to join the BellRing Brands, Inc. (BRBR) class action lawsuit.

Allegations in the BellRing Brands, Inc. (BRBR) Securities Class Action Lawsuit

The lawsuit targets BellRing Brands, Inc., its CEO Darcy Horn Davenport, and its CFO Paul Rode. Investors allege these defendants told a consistent story of durable momentum and benign competition, made materially false and misleading statements, and failed to disclose material facts about the company's sales drivers while the company's growth drivers were far less stable than portrayed.

The narrative began on November 19, 2024, when Davenport told investors the year had finished strong and momentum remained high, citing "strong tailwinds" in ready-to-drink shakes and powders in a press release. That same day, on an earnings call, she said "strong macro tailwinds around protein are driving robust long-term growth," reinforcing the view that category demand and organic growth not inventory practices was powering results, a representation investors allege lacked a reasonable basis.

As 2025 opened, the message stayed upbeat. On February 3, 2025, Davenport said the strong start to 2025 justified a raised outlook. The next day, February 4, she downplayed competitive threats on an earnings call, describing the ready-to-drink category as highly complex with a "competitive moat" and "not a ton of major changes" in competition over recent quarters, even as new RTD entrants and competitors gained retail shelf space in the club retailer channel.

According to the complaint, a different picture sat behind these statements. BellRing's reported sales were allegedly inflated by key customers, with retailers accumulating excess inventory after prior capacity constraints, concealing market share erosion as competition intensified. Sales results reflected temporary stockpiling and inventory-driven revenue inflation, not increased end-consumer demand, and defendants allegedly minimized the impact of growing competitive pressure on BellRing's products.

The Truth Emerges

The first turn came on May 6, 2025. During an earnings call for Q2 2025, management disclosed that several key retailers had reduced inventory on hand, a weeks-of-supply reduction consistent with retailer destocking, creating an expected mid-single-digit headwind to third-quarter (Q3 2025) growth. During an earnings call, CEO Davenport revealed that retailers had "hoarded inventory" coming out of capacity constraints and that this destocking would present a mid-single-digit headwind and stated, "We thought this could happen." We just had no idea when it would happen."

A second disclosure followed on August 5, 2025. On that call, Davenport acknowledged that new protein ready-to-drink products had entered the category and that "several other competitors gained...space," signaling increased competitive pressure in club and revealing competitive market erosion previously downplayed. These admissions contrasted with earlier assurances of durable momentum and a protective competitive moat, and the company later narrowed its fiscal year 2025 sales outlook. Together, the revelations recast the story of BellRing's growth. What had been sold as organic demand and stable competition was, according to investors, inventory-driven sales followed by retailer destocking and a tougher marketplace marked by intensified competition.

Market Reaction

The market reacted immediately to the May 6, 2025 disclosure, a material stock price decline for NYSE: BRBR. On that news, BellRing's stock fell $14.88 per share, or 19%, from $78.43 on May 5 to close at $63.55 on May 6, on unusually heavy trading volume. After BellRing narrowed its fiscal 2025 sales guidance following after-hours disclosures on August 4, 2025 in connection with Q3 2025 results, the stock sank the next trading day. On August 5, the price fell $17.46 per share, nearly 33%, from $53.64 on August 4 to $36.18, again on unusually heavy volume, reflecting significant shareholder losses.

Next Steps

● The Court will issue its order for lead plaintiff and counsel in the weeks after submissions are due.

● The Court will then consider motion for class certification.

● The Court will later consider a Motion to Dismiss.

Disclaimer: This shareholder alert is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for personalized guidance. No specific outcomes are guaranteed.

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Certification of Plaintiff Pursuant to Federal Securities Laws

I, duly certify and say, as to the claims asserted under the federal securities laws, that:

I have reviewed a complaint filed in the action.
I did not purchase the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this action.
I am willing to serve as a representative party on behalf of the class, including providing testimony at deposition and trial, if necessary.
My transaction(s) in BellRing Brands, Inc. which are the subject of this litigation during the class period set forth in the complaint are set forth in the chart attached hereto.
Within the last 3 years,
I have not sought to serve nor have I served as a class representative in any federal securities fraud case. I have sought to serve as a class representative in
I will not accept any payment for serving as a representative party on behalf of the class beyond the Plaintiff's pro rata share of any recovery, except as ordered or approved by the court, including any award for reasonable costs and expenses (including lost wages) directly relating to the representation of the class.

Are you US Citizen?

Yes. I certify under penalty of perjury that the foregoing is true and correct. Executed this No. I certify under penalty of perjury under the laws of the United States of America that the foregoing is true and correct. Executed this

Clear

Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.

By your signature above, you confirm that have retained Levi & Korsinsky, LLP to represent you and the shareholder class as a lead plaintiff in the pending class action against BellRing Brands, Inc. This representation will be on a contingency basis, meaning that Levi & Korsinsky will advance all expenses in the litigation and will only seek compensation and/or reimbursement of expenses if the firm obtains a recovery. Regardless of the result, we will never ask you to directly pay for any attorneys’ fees, expenses, or costs. Should we obtain a favorable result, we may ask the court to award us compensation and reimbursement of expenses to be paid by the defendants or as a portion of any class recovery. In exchange for our representation, you agree to cooperate as our client by providing, for example, relevant documents and deposition testimony, if necessary. During the course of this litigation, we may employ and/or work with other law firms, experts, and third-parties to successfully prosecute this action. If you are not appointed as the lead plaintiff or Levi & Korsinsky is not appointed as lead counsel, we will notify you of such decision at which time this representation will end unless otherwise extended by you and the firm. We look forward to working with you towards a successful resolution of this action.

I have reviewed the complaint linked in paragraph 1