LaCroix Parent Sued For Records On CEO Misconduct Claims

Law360 (August 13, 2019, 10:40 PM EDT) -- Seltzer maker LaCroix's parent company is being sued by a shareholder who told the Delaware Chancery Court on Monday he needs access to internal records to investigate whether and how management and its board of directors have responded to a bevy of issues, including now-withdrawn harassment allegations against chief executive Nick Caporella.

Shareholder Scott Swan filed suit against National Beverage Corp., which captured 23% of national sparkling-water sales last year thanks to smash hit LaCroix, though it has since seen declines, according to the complaint. The company, however, faces a variety of issues that Swan believes warrant investigation.

The shareholder wants...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!