Constellation Brands Misled on Wine, Spirits Growth, Suit Says

Constellation Brands Inc. misled investors about the prospects for growth in its wine and spirits segment ahead of a disappointing financial report and 17% stock selloff last month, an investor says in a lawsuit filed Tuesday.

On six occasions from April 11 to Dec. 3, 2024, “Constellation executives continually touted the Company’s progress with regard to its operational and executive initiatives, while detailing plans to improve future growth,” Macaria Meza says in a proposed class action. She filed her complaint Tuesday in the US District Court for the Western District of New York.

But the Rochester, N.Y.-based alcoholic beverage producer ...