Beyond Meat Wins Bid to Dismiss Shareholder Suit Over Stock Drop

A shareholder class action against Beyond Meat has been dismissed after the U.S. District Court for the Central District of California decided the plaintiffs failed to allege that the plant-based burger maker’s supposed omissions about the seriousness of a pending lawsuit were misleading under federal securities law.

The plaintiffs failed to identify any omitted information in Beyond Meat’s contemporaneous possession that would have rendered its affirmative statements of opinion about the pending lawsuit false or misleading for purposes of the Securities Exchange Act, Judge Michael W. Fitzgerald said.

It was also “far from clear” that more detailed disclosures about the ...