Meat alternatives have become increasingly popular among consumers in the last several years. One of the most popular brands is Beyond Meat, which sells plant-based foods and meat alternatives. It sells its products to various customers in the retail and foodservice channels through brokers and distributors in the U.S. and internationally. The brand works with Dunkin’ Donuts, McDonald’s, and other restaurants to produce various menu items.
A recent investor lawsuit against Beyond Meat, alleging the company made various generic disclaimers in prior litigation that didn’t completely reveal known risks. The class action lawsuit was filed against Beyond Meat, and some of its officers. The lawsuit is on behalf of a class of all persons and entities who purchased or otherwise acquired Beyond Meat securities between May 2, 2019 and January 27, 2020, seeking to recover damages caused by the company’s materially false and misleading statements in violation of federal securities laws.
Breaching Business Contracts
Business contracts spell out the obligations to be fulfilled by the parties to the agreement. When a party fails to fulfill the duties and obligations it is responsible for under the contract, it has been breached.
In the event a contract isn’t fulfilled, the breaching party must be sent written notice of the breach that details the violations and leaves room for them to be remedied by the breaching party. In the event this fails to bring about a satisfactory resolution, a breach of contract lawsuit can be filed. In order to prove a breach of contract occurred a claimant must prove:
- The validity of an existing contract, along with its terms
- Complete or partial performance by the plaintiff
- The contract was breached by the defendant
- The plaintiff sustained damages as a result of the breach
Remedies for Breach of Contract
Under Texas law, various remedies are available for damages resulting from a breach of contract, including:
- Actual damages or the actual money damages a party suffers as a result of the breach
- Reliance damages or the damages sustained because one party relied on the promise of another
- Restitution or costs paid to make the injured party whole again
- Specific performance of the terms of the contract by the breaching party
- Revision of the agreement
- Rescission of the agreement
The statute of limitations for a breach of contract lawsuit varies from state to state. In Texas, Chapter 16 of the Texas Civil Practice and Remedies Code specifies a four-year statute of limitations for breach of contract claims. This means a lawsuit must be filed within four years from the date of the breach.
Houston Commercial Litigation Attorney
Contracts set forth the rights and obligations of the parties, often providing for serious consequences if the terms are violated. At Feldman & Feldman, our experienced commercial litigation attorneys have successfully handled business disputes for over 40 years. A breach of contract can cause significant financial harm to a business, especially if operations are interrupted. If another party breached its agreement with you, contact Feldman & Feldman today to schedule a consultation to discuss the facts of your potential case.