Beyond Meat Execs, Board Hid Growth Issues, Investor Suit Says

Beyond Meat Inc. executives and directors were sued for fiduciary breaches, unjust enrichment, gross mismanagement, and negligence for allegedly making misleading statements about the plant-based meat substitutes company’s production capacity and partnerships.

The defendants misrepresented the strength of partnerships with brands like Taco Bell and Pizza Hut, and overstated the ability to scale production, according to the complaint filed Thursday in the US District Court for the Central District of California.

“The Company believes the claims are without merit and intends to vigorously defend all claims asserted,” a Beyond Meat spokeswoman said in an email.

The allegedly misleading statements ...