Anheuser-Busch InBev SA/NV (NYSE: BUD)
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Tel: (800) 575-0735 or (212) 545-4774
NEW YORK, NY – June 18, 2019 – Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors that purchased the American Depositary Receipts (“ADR’s”) of Anheuser-Busch InBev SA/NV (“Anheuser-Busch” or the “Company”) (NYSE: BUD) from March 1, 2018 through October 24, 2018, inclusive (the “Class Period”).
Investors who purchased the ADR’s of Anheuser-Busch InBev SA/NV are urged to contact the firm immediately at firstname.lastname@example.org or (800) 575-0735 or (212) 545-4774.
If you have incurred losses in the ADR’s of Anheuser-Busch InBev SA/NV, you may, no later than August 20, 2019, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Anheuser-Busch InBev SA/NV.
According to the filed complaint defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- defendants’ cost cutting measures had largely run their course;
- the devaluation of key emerging market currencies and input cost inflation was having a material adverse effect on Anheuser-Busch’s margins, EBITDA and profitability;
- Anheuser-Busch had been experiencing less than expected growth and profits in certain key markets;
- Anheuser-Busch was not going to be able to maintain its then current dividend and still meet its deleveraging targets;
- Anheuser-Busch was at risk of having its credit ratings downgraded;
- as a result, defendants lacked a reasonable basis for their positive statements about the Company’s dividend growth, its cost synergies, its liquidity, and defendants’ then current efforts to deleverage Anheuser-Busch’s balance sheet;
- the liquidity and working capital disclosures in filings Anheuser-Busch made with the United States Securities and Exchange Commission (“SEC”) were materially false and misleading;
- the risk factor disclosures in filings Anheuser-Busch made with the SEC were materially false and misleading;
- the representations about Anheuser-Busch’s disclosure controls in filings the Company made with the SEC were materially false and misleading;
- the certifications issued by Defendants Carlos Brito and Felipe Dutra regarding Anheuser-Busch’s disclosure controls and internal controls over financial reporting were materially false and misleading; and
- based on the foregoing, defendants lacked a reasonable basis for their positive statements about Anheuser-Busch’s then-current business operations and future financial prospects.
On October 25, 2018, the Company cut its dividend by 50% to “accelerate deleveraging toward [its] optimal capital structure of around 2x net debt to EBIDTA ratio.” During a conference call on this same day with investors and analysts, the Company’s Chief Financial and Solutions Officer reaffirmed the
need to cut the dividend due to “currency volatility.”On this news, the Company’s ADR price fell $7.71, or more than 9%, to close at $74.54 on October 25, 2018.
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at email@example.com.