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Case Status:    DISMISSED    
On or around 03/29/2017 (Date of order of final judgment)

Filing Date: April 01, 2015

According to the law firm press release, Boulder is a company that markets and manufactures a wide array of consumer food products for sale primarily in the United States, Canada and the United Kingdom.

The complaint alleges that during the Class Period, defendants issued materially false and misleading statements and/or failed to disclose adverse facts concerning the Company’s business and prospects. Specifically, defendants failed to disclose that the Company was having problems with its inventory management and the integration of recent acquisitions, and that the Company’s ongoing mix shift to lower margin products made its previously announced margin improvements unattainable. As a result of defendants’ false statements and omissions, Boulder stock traded at artificially inflated prices during the Class Period, reaching a high of $17.94 per share on April 2, 2014.

Then, on October 22, 2014, Boulder provided an update on its anticipated third quarter 2014 financial results and its outlook for the fourth quarter of 2014, disclosing that during “the third quarter, we faced a number of headwinds that impacted our financial results.” The Company further disclosed that the “the mix shift of our fast-growing, lower margin Natural segment is significantly outpacing our higher margin Balance segment and is therefore putting increased pressure on our gross margins.” In addition, the Company revealed it was “expecting lower shipments due to a normalizing of certain inventories at our largest customer.” On this news, the price of Boulder stock collapsed 23%, falling from a closing price of $12.73 per share on October 21, 2014 to close at $9.62 per share on October 22, 2014, on volume of more than 9 million shares traded. The next day, Boulder’s stock price dropped an additional 6%, closing on October 23, 2014 at $8.99 per share.

On March 2, 2016, the Court issued an Order appointing lead plaintiff and approving lead counsel. Lead Plaintiff filed a consolidated complaint on April 1.

On March 28, 2017, the Court issued an Order granting Defendants' Motion to Dismiss. This case was ordered closed.

COMPANY INFORMATION:

Sector: Consumer Non-Cyclical
Industry: Food Processing
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: BDBD
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Colorado
DOCKET #: 15-CV-00679
JUDGE: Hon. Kathleen M. Tafoya
DATE FILED: 04/01/2015
CLASS PERIOD START: 12/23/2013
CLASS PERIOD END: 10/22/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Robbins Geller Rudman & Dowd LLP (Boca Raton)
    120 East Palmetto Park Road, Suite 500, Robbins Geller Rudman & Dowd LLP (Boca Raton), FL 33432
    561.750.3000 561.750.3364 ·
  2. The Shuman Law Firm (former Denver)
    885 Arapahoe Avenue, The Shuman Law Firm (former Denver), CO 80302
    303.861.3003 303.861.3003 ·
No Document Title Filing Date
COURT: D. Colorado
DOCKET #: 15-CV-00679
JUDGE: Hon. Kathleen M. Tafoya
DATE FILED: 04/01/2016
CLASS PERIOD START: 12/23/2013
CLASS PERIOD END: 10/22/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Robbins Geller Rudman & Dowd LLP (Boca Raton)
    120 East Palmetto Park Road, Suite 500, Robbins Geller Rudman & Dowd LLP (Boca Raton), FL 33432
    561.750.3000 561.750.3364 ·
  2. The Shuman Law Firm (former Denver)
    885 Arapahoe Avenue, The Shuman Law Firm (former Denver), CO 80302
    303.861.3003 303.861.3003 ·
No Document Title Filing Date