BellRing Brands, Inc. Class Action Lawsuit – BRBR

According to the filed complaint, defendants represented that sales growth reflected increased end-consumer demand, attributing results to “organic growth,” new “demand drivers,” “distribution gains,” “incremental promotional activity,” and “[s]trong macro tailwinds around protein” which was “driving robust long-term growth[.]” At the same time, defendants downplayed the impact of competition on demand for its products, insisting that the Company was not experiencing any significant changes in competition, and that in the ready-to-drink category particularly, BellRing possessed a “competitive moat,” given that “the ready-to-drink category is just highly complex” and the products are “hard to formulate.”