Saxena White P.A. Files New Securities Class Action Lawsuit Against Primo Brands Corporation and Related Parties, Expanding the Claims Asserted

Core Viewpoint - Saxena White P.A. has initiated a securities class action lawsuit against Primo Brands Corporation and its executives, alleging misleading statements and omissions related to the company's secondary public offering and merger integration issues [1][2][5]. Group 1: Class Action Details - The class action claims violations of the Securities Exchange Act and the Securities Act, representing individuals who purchased Primo Brands stock during specified periods and suffered damages [1][2]. - The lawsuit expands upon a related action filed in Connecticut, alleging previously unpled claims regarding materially false and misleading statements in the secondary public offering materials [2]. Group 2: Company Background - Primo Brands is a beverage distribution company with a portfolio that includes brands like Poland Spring and Pure Life, formed through a merger with BlueTriton [4]. - The merger was announced on June 17, 2024, and was positioned as a strategic move to create a leading healthy hydration company in North America [4]. Group 3: Allegations of Misleading Information - The class action alleges that Primo Brands misled investors about the merger's integration progress, failing to disclose operational disruptions and execution challenges that negatively impacted business performance [5][6]. - Specific claims include that the direct delivery business faced serious operational issues, which hindered the company's ability to serve customers effectively [5]. Group 4: Financial Performance and Stock Impact - On August 7, 2025, Primo Brands reported disappointing financial results, with revenue of $1.730 billion and adjusted diluted EPS of $0.36, leading to a stock price drop of approximately 9% [6]. - The stock further declined by over 21% on November 6, 2025, after the company announced additional guidance reductions and a change in CEO, reflecting ongoing operational challenges [7]. - Since the secondary public offering, the stock value has decreased by approximately 44%, from $29.50 to $16.54 per share [7].