NEW YORK, NY / ACCESSWIRE / December 8, 2022 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against NewAge, Inc. ('NewAge' or the 'Company') (NASDAQ:NBEV) (OTC: NBEVQ)and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired NewAge common stock during the period from January 18, 2018 and October 18, 2022, inclusive (the 'Class Period'). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/nbev.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose, among other things, that: (1) NewAge never entered into a 'distribution agreement' or 'initiative in partnership' with the military and never had plans to sell its products at all commissaries and exchanges around the world; (2) NewAge did not have adequate inventory of its products to fulfill this reported agreement; (3) NewAge did not actually expand its product lines or distribution agreements as represented; (4) the Company lacked adequate internal controls; (5) as a result the Company had a heightened risk of regularly scrutiny and ultimately subject to an SEC investigation and action; and (6) as a result of the foregoing, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: : www.bgandg.com/nbev or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in NewAge you have until February 6, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson

212-697-6484 | info@bgandg.com

SOURCE: Bronstein, Gewirtz and Grossman, LLC