NEW YORK, Aug. 24, 2026 (GLOBE NEWSWIRE) -- SMPL INVESTOR ALERT: Levi & Korsinsky, LLP alerts investors in The Simply Good Foods Company (NASDAQ: SMPL) of a pending securities class action covering purchasers between October 24, 2024 and April 8, 2026. Find out if you may be eligible to recover losses. You may also contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.
SMPL shares fell from $14.41 per share on April 8, 2026, to $10.44 per share on April 10, 2026, a decline exceeding 27%, or more than $10.40 per share. The Company recorded a $187 million impairment against OWYN intangible assets, bringing cumulative write-downs to $200 million on a $280 million acquisition. The window to apply for lead plaintiff closes on October 13, 2026.
The Named Individual Defendants
The action names Geoff E. Tanner, President and Chief Executive Officer from July 2023 until January 2026; Shaun P. Mara, Chief Financial Officer from October 2022 until July 2025; and Christopher J. Bealer, Chief Financial Officer since July 2025 and previously SVP Finance. Each is alleged to have signed or certified periodic reports describing the OWYN acquisition as central to the Company's strategic vision.
Sarbanes-Oxley Certification Obligations
Under Sections 302 and 906 of the Sarbanes-Oxley Act, the certifying officers attested that the Company's quarterly and annual reports did not omit material facts. The complaint charges that those filings failed to disclose already-existing integration breakdowns, departures of key OWYN personnel, and product quality problems tied to a pea protein sourcing change.
Alleged Control Person Liability Under Section 20(a)
- Authority over the content of Form 10-K and Form 10-Q filings during the Class Period
- Certifications under Sarbanes-Oxley Sections 302 and 906 attesting to disclosure accuracy
- Direct participation in quarterly earnings calls addressing OWYN integration status
- Alleged access to internal reporting on OWYN margins, discounting, and G&A growth
- Alleged responsibility for risk factor language stating the Company "may not accomplish the integration of an acquired business smoothly"
- Alleged failure to correct prior statements as adverse conditions worsened
"Corporate officers have a duty to ensure their companies' public statements are accurate and complete. The complaint here alleges that certifications continued to attest to complete disclosure even as OWYN integration problems were allegedly known internally." -- Joseph E. Levi, Esq.
Submit your information to learn more or call (212) 363-7500.
Levi & Korsinsky, LLP is a nationally recognized shareholder rights firm. Over the past 20 years, the firm has secured hundreds of millions of dollars for aggrieved shareholders. Ranked in ISS Top 50 for seven consecutive years.
Frequently Asked Questions About the SMPL Lawsuit
Q: Who are the defendants named in the SMPL lawsuit? A: The complaint names The Simply Good Foods Company and individual defendants including senior executives who signed SEC filings, made public statements, or certified financial disclosures under Sarbanes-Oxley.
Q: What specific misstatements does the SMPL lawsuit allege? A: The complaint alleges The Simply Good Foods Company made materially false or misleading statements regarding the integration and performance of the OWYN acquisition during the Class Period. When the OWYN sales contraction, $187 million impairment, and slashed fiscal 2026 outlook were disclosed, the stock price declined sharply.
Q: What court was the SMPL class action filed in? A: The case was filed in the United States District Court for the Southern District of New York, governed by the Private Securities Litigation Reform Act of 1995.
Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.
Q: What documents do I need to submit my information? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.
Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.
Q: What does it cost me to participate? A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in the securities class action, they are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.
Q: What if I already sold my SMPL shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
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