Robbins Arroyo LLP: Officers and Directors of Freshpet, Inc. (FRPT) Breached Their Fiduciary Duties According to Shareholder Lawsuit

SAN DIEGO & SECAUCUS, N.J.–(BUSINESS WIRE)–$FRPT #ClassAction–Shareholder rights law firm Robbins
Arroyo LLP
announces that purchasers of Freshpet, Inc. (NYSE: FRPT)
have filed a shareholder complaint against the company’s officers and
directors for breaches of their fiduciary duties from March 2015 through
November 2015. Freshpet manufactures and markets natural fresh products,
refrigerated meals, and treats for dogs and cats in the United States,
Canada, and the United Kingdom.

View this information on the law firm’s Shareholder Rights Blog:
https://www.robbinsarroyo.com/freshpet-inc-nov-2018/

Freshpet Accused of Touting Promising Outlook Despite Production
Problems

According to the complaint, although Freshpet’s officials knew that the
company was experiencing production issues that prevented it from
keeping Freshpet fridges stocked at many locations, Freshpet officials
projected an optimistic outlook for the company. While Freshpet’s stock
was artificially inflated, company insiders sold over 7 million shares
of their personally-held Freshpet stock for gross proceeds of over
$140.8 million. On November 11, 2015, Freshpet finally lowered its
guidance and admitted to approximately $2.4 million in lost sales,
noting that the recent bankruptcy of two grocery retailers impacted
Freshpet’s fridge count and sales by approximately 100 locations. On
this news, Freshpet’s stock fell over 25%, representing a loss of over
$70 million in market capitalization.

Freshpet Shareholders Have Legal Options

Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leonid Kandinov at
(800) 350-6003, LKandinov@robbinsarroyo.com,
or via the shareholder
information form
on the firm’s website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. Sign up for our FREE
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Contacts

Robbins Arroyo LLP
Leonid Kandinov
(619) 525-3990 or Toll Free
(800) 350-6003
LKandinov@robbinsarroyo.com
www.robbinsarroyo.com

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