Faruqi & Faruqi Appointed Sole Lead Counsel to Represent NewAge Shareholders in Securities Class Action

On March 26, 2024, United States District Judge Daniel D. Domenico of the District of Colorado adopted Magistrate Judge James P. O’Hara’s ruling and recommendation to appoint Faruqi & Faruqi, LLP, as sole lead counsel in Clifton v. Willis, et al., 22-cv-03161-DDD-JPO. The suit centers on allegations that Defendants made false and misleading representations that NewAge, Inc. conducted business with the military and FamilyMart, overstated other business agreements, never produced or sold a CBD infused beverage, lacked internal controls and that the Company was exposed to a heightened risk of an SEC investigation.  

For further inquiries regarding this matter, please contact James M. Wilson, Jr. at jwilson@faruqilaw.com or (212) 983-9330. 

Copies of the Magistrate Judge’s Ruling & Recommendation and the District Court’s order adopting the Magistrate Judge’s Ruling & Recommendation are linked below.