Description: Securities class action against oatmilk company alleging greenwashing, among other misleading statements.
Jochims v. Oatly Group AB
Filing Date Type File Action Taken Summary 09/24/2021 Motion Download Motion for consolidation filed. 07/26/2021 Complaint Download Complaint filed. Federal Securities Actions Against Oatmilk Company Included Greenwashing Allegations. Two securities class actions filed in the federal district court for the Southern District of New York alleged that Oatly Group AB, the oatmilk company, and Oatly officials and directors made false statements and failed to disclose adverse facts that deceived the investing public and artificially inflated the prices of Oatly stock shares between the time of the company’s initial public offering in the United States in May 2021 and July 2021, when a short seller issued a report on “a number of improprieties at Oatly, including improper accounting practices and greenwashing (making the Company’s product appear more sustainable than it actually is).” The complaint alleged that Oatly’s statements in the registration statement filed with the Securities and Exchange Commission and in an investor presentation including misleading statements related to the greenhouse gas emissions and energy consumption associated with its product.