According to the Complaint, Dutch Bros, Inc. operates and franchises drive-thru coffee shops. The Company also sells and distributes coffee and coffee-related products and accessories.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that the Company was experiencing increased costs and expenses, including on dairy; (2) that, as a result, the Company was experiencing increased margin pressure and decreased profitability in the first quarter of 2022; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On August 3, 2023, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on August 31. Defendants filed a Motion to Dismiss the amended Complaint on September 28.

On June 24, 2024, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed with prejudice.