Blaming Atkins, Part III: And We Have a Winner
The flow of bad news from bakeries and doughnut makers had me wondering in February and again just last week when we might see the first Atkins-diet based securities class action. That question was answered on Thursday, May 12 in the form of this complaint against Krispy Kreme Doughnuts. According to the complaint, "unbeknownst to investors, Defendants failed to disclose that, as a result of the trend toward low-fat, low carbohydrate diets, such as the South Beach and Atkins diets, Krispy Kreme had been suffering from increasingly poor sales performance...."
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Comments
I once based on an exam question on such a scenario. I like to use hypotheticals that are somewhat absurd to give the students a bit of levity while they are taking their exam. I am once again out-flanked by the plaintiffs' bar!
Posted by: Adam Pritchard | May 13, 2004 8:45 AM