A group of investors suing Oatly on Friday asked a New York federal judge to preliminarily approve a “fair, reasonable and adequate” $9.25 million deal to settle claims the oatmilk giant made misleading statements regarding its financial metrics, sustainability and growth in China. 

⏪ The suit, filed in July 2021, accuses Oatly of fraud in connection with certain claims made in the company’s $1.4 billion IPO registration statement and in an investor presentation on its website. In the lengthy complaint, investors alleged the Swedish company’s shares were overinflated because the company overhyped demand for its products while practicing greenwashing.  

⏩ In August 2023, plaintiffs filed their third amended complaint in the suit after their previous complaint was dismissed by a judge and some of the greenwashing allegations were deemed “mere puffery.” 

💭 “Even if plaintiffs had been able to revive those claims in their re-pled TAC, there would be no assurance that the TAC would survive the defendant’s renewed motions to dismiss (let alone summary judgment, trial and inevitable appeals,” reads Friday’s motion. 

📉 The news comes after Oatly on Thursday posted a steep quarterly loss ($298.7 million) primarily driven by the cancellation of new facilities that would have expanded production capabilities. 

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Having broadened its suite of beverage services via M&A, Connecticut-based fountain drink specialists Al’s Beverage Company is taking a new name, announcing this month it has rebranded to become Flavor Smart Beverage Group.

⛲ The company is a licensed fountain and frozen drinks manufacturer for Keurig Dr Pepper, Bigelow Tea and PEZ.

💱 Going from simply a “Company” to a “Group,” the new name reflects the rush of M&A activity Flavor Smart has taken in recent years, having acquired companies such as Rhode Island Fruit and Syrup, Cameron Supply and Glen Carbonics.

🌴 The expanded company now aims to position itself as an international industry leader servicing the U.S. and the Caribbean. "Our rebranding is a testament to our expansive growth and enhanced capabilities,” said president/CEO Gerry Martin, a former Polar Beverage executive.

Having dived into the cannabis beverage pool, Monarch Emulsions is now eager to go deeper.

The Rhode Island-based company is positioning itself to become a player in New England's exploding cannabis market as the emergence of hemp-derived Delta-9 THC drinks in the mainstream continues to create both upheaval and opportunity. Massachusetts-based startup The Drinkable Company uses Monarch’s emulsions in its various beverages.

We spoke with Monarch’s chief marketing officer Derek Gould – a partner alongside experienced cannabis operators John Miles (CEO) and Brendan Delaney (COO) – about the company’s market strategy, its outlook on the rise of hemp-derived D9 drinks (and its impact on the licensed, recreational side) and the major industry-wide challenges that lie ahead.

Read the full interview on BevNET

Maybe we're still coming down from the Biggest Night in Soda (aka the Super Bowl), but it feels like CSDs -- particularly of the functional, better-for-you variety -- are ascendant at the moment. Enter: Happy Pop, a new line of organic energy drinks enhanced with adaptogens from Koia co-founders Maya French and Dustin Baker.

How does it stack up within an increasingly crowded field? We dive into the brand's three flavors: Lemon Zing, Rainbow Drip and Tangerine Dream. 

Read the full review on BevNET

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Poppi is getting a lot of attention, particularly as an acquisition target, a topic the hosts discussed in the episode, along with Coke’s new TikTok-inspired soda and a trio of “loaded” cereals. This episode also includes a conversation with executives from Manna Tree and Gotham Greens who discuss their relationship as mission-driven investor and entrepreneur.

Listen to the full episode of Taste Radio here