Portnoy Law Firm Announces Class Action on Behalf of Primo Brands Corporation Investors
Globenewswire·2025-12-04 15:19

Core Viewpoint - The Portnoy Law Firm is advising investors of Prime Brands Corporation to join a class action lawsuit due to significant stock price declines following operational disruptions and management changes after a merger [1][3]. Group 1: Merger and Financial Performance - On June 17, 2024, Primo Water Corporation announced a merger with BlueTriton Brands, highlighting expected synergies and long-term growth potential [3]. - The merger was completed on November 8, 2024, forming Primo Brands [3]. - On August 7, 2025, Primo Brands reported financial results, with CEO Robbert Rietbroek acknowledging disruptions in product supply and service due to rapid operational changes, leading to a stock price drop of $2.41 per share (9.13%) [3]. - On November 6, 2025, the company announced a significant reduction in its 2025 net sales and adjusted EBITDA guidance, with new CEO Eric Foss admitting to integration issues and customer service problems, resulting in a further stock price decline of $8.20 per share (36.19%) [3]. Group 2: Legal Actions and Investor Rights - Investors who purchased securities during the specified class period have until January 12, 2026, to file a lead plaintiff motion [1]. - The Portnoy Law Firm is offering complimentary case evaluations to investors seeking to recover losses due to corporate wrongdoing [2][4].