Latest news with #classActionLawsuit
Daily Mail
26-05-2025
- Entertainment
- Daily Mail
George Clooney-founded Casamigos sued for breaking cardinal rule in tequila making
In a bombshell class-action lawsuit, one of best-selling tequilas in the world, George Clooney's Casamigos, is being sued, accused of selling possibly fake tequila, to 'cut corners.' Casamigos and Don Julio, both owned by spirit company Diageo, face allegations in a federal suit of using spirits other than tequila in their bottles, while the brands market themselves as 100% agave. Tequila, which has to be exclusively made in the tequila region of Mexico from blue weber agave, can only be made of three ingredients: agave, water and yeast. As exclusively reported recently, tequila brands have been allowed to add 1% of additives like glycerin, caramel coloring, oak extract and sugar-based syrups. While even the use of additives has been controversial because they're considered a short cut to the years-long process of crafting the Mexican drink, the filing out of New York, states that Casamigos and Don Julio sold 'adulterated' booze, possibly using cheap cane sugar instead of the 100% prized blue weber agave. Meanwhile, the products are labeled as 'luxury' and 'premium,' with each bottle costing between $50 and $150 a piece. 'Tequila manufacturing requires the cultivation, fermentation, and distillation of Blue Weber Agave, and because this type of agave takes five to ten years to mature for harvest, this 'creates ongoing tension in the industry, as well as the temptation to cut corners,"' the demand reads. A less pure vision of the alcohol - known as mixtos - can be sold, but they must be labeled as only having 51% agave and are much less expensive than tequila. Casamigos is the top celebrity-backed tequila in the world Chaim Mishulovin, Avi Pusatezri, a New Yorker mixologist, and restaurant called Sushi Tokyo are the plaintiffs seeking $5 million each in damages from Diageo. Casamigos, famously founded by George Clooney and Randy Gerber (married to super model Cindy Crawford), was sold to Diageo in a $1 billion deal. TEQUILA ADDITIVES Glycerin: Chemical creates a fuller mouthfeel. Its heavy, oily texture can mask poor distillation by coating the molecules within the tequila. Oak extract: Can be used to make tequila taste like it's been aged in an oak barrel for longer than it has. Caramel coloring: Often used to create consistency in the color and flavor of aged products, like reposado or añejo tequila, from batch to batch. Jarabes: Sugar-based syrups may include natural sweeteners like agave nectar or artificial ones, like aspartame or Splenda, to sweeten a product Source: Jay Baer However, Clooney, Gerber and even his super model wife are used to market the booze, with the Casamigos Jalepeno version marketed with the model's signature birth mark and lips. While its celebrity connections have helped propel Casamigos to being the fourth-best selling tequila in the world, it is often bashed by experts for its terrible quality. 'The issue with celebrity tequila out there is that they're using unripe agave, mass producing it, and pumping it fill of artificial sweeteners just to make a buck,' declared Texas tequila coach Fonseca Aquinaga on his Instagram account. The popularity of the brand means it has shortened the time it allows agave to mature and sweeten naturally in the earth so it can be pulled from the ground and turned into alcohol. Tequila experts say larger operations outsource their blanco Tequila, buying it from a no-name mass producer before adding chemicals to it to make it taste like what their customers are used to. Casamigos contains additives, as does Don Julio, although neither declare it on their packaging. Other alcohol experts have entire reels where they plead with customers to stop wasting their money on both brands being sued. 'One of my friends is thinking about getting Don Julio blanco for $50. What do you think? I think you should get better friends. There are better choices than Don Julio Blanco, like so many better choices,' tequilajaybaer says in the clip. The owner of both brands vows to fight the allegations in the lawsuit. 'These claims of adulteration are outrageous and categorically false; Don Julio and Casamigos tequilas are crafted from 100% Blue Weber Agave and are in full compliance with the official tequila standard,' Diageo said in a statement. 'We look forward to vigorously defending the quality and integrity of our Tequilas in court.' If this case goes to trial, it may be the first time a tequila maker has to actually prove what in their product. Right now, the only tequila regulator in Mexico is the Consejo Regulador del Tequila (CRT.) The private organization is made up of tequila makers, with executives from the most profitable and big tequila brands holding the most power. The CRT uses an honor system to regulate itself. 'There is a binder in every distillery where you write down if you put additives in the product or not. The CRT looks at the binder and signs off and moves on. They don't test or smell or anything,' tequila expert Grover Sanschagrin told Punch. The CRT, also known as the 'tequila cartel,' insiders tell do not like to be challenged. Sanschagrins' website, which claims to be the most extensive tequila database in the world, catologues all the additive-free tequila, which he tested in his Guadalajara home. Last year, his home was raided in the dead of night by Mexican federal authorities, according to Mexican media. Armed police, with a warrant that included a complaint by the CRT, claimed that the Sanschagrins were using their home as an 'adulterated tequila factory.' While no one was arrested, some bottles of tequila were seized. Despite the push-back, consumers are learning about additive-free tequila and demanding it. Big alcohol stores, like Total Wine, have now started to label tequila it sells as additive-free.
Yahoo
20-05-2025
- Business
- Yahoo
Krispy Kreme faces investor lawsuit over halted McDonald's expansion
Krispy Kreme is facing a class action lawsuit from investors who allege they were misled regarding the company's halted expansion into McDonald's restaurants. The doughnut giant had announced plans to supply fresh doughnuts to 12,000 McDonald's locations by the end of 2026, but paused the rollout due to low demand and profitability concerns. The lawsuit claims that Krispy Kreme failed to disclose the decline in demand following the initial marketing campaign, the lack of profitability from the partnership and the subsequent halt in expansion. The company's stock fell by 24.71% after this announcement. McDonald's is part of Krispy Kreme's Delivered Fresh Daily (DFD) model, which delivers fresh products to outlets such as convenience stores, gas stations and grocery stores. The company also partners with Target, Walmart and Kroger. But despite these partnerships, Krispy Kreme has reported a slight decrease in net and organic revenue, citing consumer softness and a drop in doughnut shop transactions, particularly in the US. Krispy Kreme CEO Josh Charlesworth told investor analysts during the company's first quarter (Q1) earnings call: 'We're pleased with many aspects of the McDonald's partnership. The execution across all the cities has been very good. Our teams have worked well together, making sure we have awesome fresh doughnuts readily available. I think it's also important to understand that we need it to be profitable on a sustainable basis over the long term. 'So what we're doing working with them is to make sure that the availability and the visibility of the doughnuts is consistently prominent and that our operations are as simplified and streamlined as they can be. So really, our focus through 2,400 restaurants we're in today is making sure we're positioned for profitable growth before we expand further.' Krispy Kreme reported a net revenue of $375.2m for Q1, which ended on 30 March 2025. Organic revenue declined 1% to $374.7m. To improve efficiency and reduce costs, Krispy Kreme is moving towards outsourcing its delivery network. It is expected to be fully outsourced by mid-2026. The company is also retrofitting production hubs in strategic locations to decrease capital and real estate expenses significantly. The class action lawsuit is open to investors who acquired Krispy Kreme securities between 25 February and 7 May 2025. "Krispy Kreme faces investor lawsuit over halted McDonald's expansion" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Phone Arena
11-05-2025
- Phone Arena
List reveals which subscription-based apps subscribers want to stop paying for
Some people end up signing up for online services for their mobile devices that they forget about and never use. That's why there are services that go through your list of subscrioptions and help you unsubscribe from them. Others turn to Google Search and seek information on how to cancel a subscription. Some are so fed up with an app that they not only want to cancel their subscription, they also want it deleted from their device as though it never existed in the first place. Sparrow, a service that helps you file claims with courts related to class-action lawsuits, put together a list of the apps that subscribers are the most desperate to unsubscribe from. The list was created by searching keyword data for words and phrases like "unsubscribe," "delete," "cancel," and "cancel subscription." Looking at the monthly total search volume for these words, a list was created that shows which subscription apps users want to get rid of ASAP. Topping the list with 578,000 searches related to cancellation each month is Amazon Prime. The latter had 45% more cancellation-related searches than the runner-up, Disney Plus. The streaming service from the House of Mouse generates close to 398,000 cancellation-related searches each month. The list looks like this: Amazon Prime (578K total monthly cancellation searches)-this app is the subject of 447,000 searches for "Cancel" each month. Disney Plus (397.7K)-this app has the highest monthly search for "cancel subscription" with an average of 79,000. Hulu (149.7K)-received 113,000 searches each month from subscribers trying to find out how to cancel the service. Snapchat (143.6K)-with 143,000 searches for delete each month, subscribers want to do more than just stop paying for the app. Paramount (139.4K)-in a competitive streaming industry, this app generates 106,000 monthly searches for "cancel." Audible (136.9K)-is the only audio-related subscription service in the top ten. Peacock (106.7K)-the video streamer receives 27,000 "cancel subscription" searches on average, each month. TikTok (101.7K)-with 101,000 monthly searches for "delete," this is another app that those leaving the service want removed from their device. Spotify (95.1K)-brings in a balance of "cancel" and "delete" search requests monthly. Netflix (93.1K)-with fewer "cancel subscription" searches than the competition, Netflix is in a good place among video streamers. Of course, some of these apps are among the most installed. After all, you can't be among the apps getting the most search requests related to cancelling service unless you have a large number of subscribers in the first place.
Yahoo
08-05-2025
- Business
- Yahoo
AppLovin (NasdaqGS:APP) Reports US$189 Million Goodwill Impairment Against Rising Q1 Earnings
AppLovin recently reported strong first-quarter results with significant sales and net income increases, alongside issuing positive guidance for the second quarter, which seems to align with the company's impressive 31% share price increase last month. During this period, AppLovin faced a class action lawsuit, which could have introduced volatility, but market trends favored technology stocks as a whole, as demonstrated by the broader 2% rise in the Nasdaq Composite. Moreover, the strategic sale of its mobile game business further solidified investor confidence, all amid a pivotal time of market optimism spurred by U.S. trade developments. AppLovin has 3 warning signs we think you should know about. The end of cancer? These 23 emerging AI stocks are developing tech that will allow early identification of life changing diseases like cancer and Alzheimer's. The recent developments concerning AppLovin, including the strategic sale of its mobile game business and stronger-than-expected first-quarter results, could significantly influence current narratives around the company's shift towards focusing on high-margin advertising and automation. This news has contributed positively to its growth story by potentially enhancing operational efficiency and boosting net margins as the company leverages AI capabilities within the advertising sector. AppLovin's shares have exhibited an impressive total return of over 1000% during a three-year period, reflecting not only the company's growth but also investor confidence during this transformative phase. Despite this substantial gain, it's important to contextualize these returns with the company's more recent performance relative to its peers. Over the past year, AppLovin's returns have outpaced both the US Software industry and the broader market, which saw annual returns of 14.1% and 7.7% respectively. The positive forecast and past performance have directly impacted revenue and earnings expectations, with analysts forecasting annual revenue growth of 19.6% over the next three years and significant profit margin improvement. However, the stock's price movement—up 31% last month—positions it closer to, yet still below, the consensus price target of US$432.90, offering potential room for further valuation growth if the company meets or exceeds earnings forecasts. Review our growth performance report to gain insights into AppLovin's future. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqGS:APP. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
