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to investigate whether and how management and its board of directors have responded to a bevy of issues, including now-withdrawn harassment allegations against chief executive Nick Caporella.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...

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