Recent Securities Litigations
Craft Brew Alliance, Inc. (NASDAQ: BREW)
According to the Complaint, Craft Brew Alliance, Inc. (“CBA”) is a leading craft brewing company that brews, brands, and brings to market world-class American craft beers. The Company’s portfolio combines the power of Kona Brewing Company, a fastgrowing national craft beer brand, with strong regional breweries and innovative lifestyle brands, including: Appalachian Mountain Brewery, Cisco Brewers, Omission Brewing Co., Redhook Brewery, Square Mile Cider Co., Widmer Brothers Brewing, and Wynwood Brewing Co.
This action stems from a proposed transaction announced on November 11, 2019, pursuant to which Craft Brew Alliance, Inc. will be acquired by Anheuser-Busch Companies, LLC (“ABC”).
On November 11, 2019, CBA’s Board of Directors caused the Company to enter into an agreement and plan of merger with ABC. Pursuant to the terms of the Merger Agreement, CBA stockholders will receive $16.50 in cash for each share of CBA common stock they own.
On January 21, 2020, Defendants filed a proxy statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction, which scheduled a stockholder vote on the Proposed Transaction for February 25, 2020. The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.