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Craft Brew Alliance Sued Over Dealings With Anheuser-Busch

Feb. 12, 2020, 9:57 PM

Craft Brew Alliance Inc. was hit with securities fraud claims Wednesday by a proposed class of stockholders in connection with its merger with Anheuser-Busch Co. LLC.

The suit alleges that CBA and its board of directors violated the Securities Exchange Act by filing a materially incomplete and misleading preliminary proxy statement with the SEC, designed to solicit shareholders to vote in favor of the acquisition.

The proxy doesn’t provide CBA’s shareholders with a materially complete understanding of the assumptions and key factors considered in developing the financial projections, the complaint alleges.

The financial forecasts in the proxy provide an “incomplete...

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