SAN DIEGO, March 26, 2025 (GLOBE NEWSWIRE) -- A class action lawsuit has been filed on behalf of all persons and entities that purchased or otherwise acquired Constellation Brands, Inc. (NYSE: STZ) (“Constellation” or the “Company”) securities between April 11, 2024 and January 8, 2025 (the “Class Period”), charging the Company and certain senior executives with violations of the federal securities laws (collectively, “Defendants”).

Constellation investors have until April 21, 2025 to seek appointment as lead plaintiff of the Constellation class action lawsuit.

If you purchased or acquired Constellation securities between April 11, 2024 and January 8, 2025, and suffered substantial losses, and you wish to obtain additional information or serve as lead plaintiff in this lawsuit, you may submit your information and contact us here: https://dicellolevitt.com/securities/constellation-brands/.

You can also contact DiCello Levitt attorneys Brian O’Mara or Ruben Peña by calling (888) 287-9005 or emailing investors@dicellolevitt.com. Those who inquire by email are encouraged to include their mailing address, telephone number, and the number of shares purchased.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice.

Case Allegations

Constellation is an international producer and marketer of beer, wine, and spirits with operations in North America, New Zealand, and Italy. The Company supplies its products to wholesale distributors, retailers, on-site locations, and state alcohol beverage control agencies.

The Constellation lawsuit alleges that Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made statements creating the false impression that they possessed reliable information about the Company’s Wine and Spirits business. For example, Defendants claimed “for the Wine and Spirits business, we expect operating margins to benefit from mix benefits due to the previously noted seasonally driven increase in volumes for our higher-end brands, incremental volume benefits from the commercial execution initiatives also previously referenced to further support demand for our core brands and operational efficiency and cost savings actions.” In reality, Defendants had failed to improve mix, inventory and sales execution, investments made in media spend and price promotions, and adjustments of the Company’s sales capabilities to support distribution partners.

The truth emerged on January 10, 2025, when Constellation announced its third quarter 2025 financial results. In a press release announcing the results, Defendants revealed a significant miss for the Wine and Spirits segment, stating that “Our Wine and Spirits net sales declined 14% driven by a 16.4% decrease in shipment volumes, mostly driven by ongoing weaker consumer demand and continued retailer inventory destocking across most price segments in the U.S. wholesale market.”

On this news, the price of Constellation’s common stock fell by $37.47 per share, or 17%, to close at $181.81 per share on January 10, 2025.

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