The founder and president of New Glarus Brewing Company says she can “breathe a sigh of relief” after an appeals court upheld an earlier decision dismissing an investor lawsuit against the business.

In an interview yesterday, Deb Carey described the two-year legal battle as a “long and kind of heartbreaking journey” that has cost her millions of dollars.

Plaintiff shareholders Karin Eichhoff, Steven Speer and Roderick Runyan filed a lawsuit against Carey and the company in March 2022 alleging “minority shareholder oppression” and securities fraud, according to court documents. Among other claims, the plaintiffs argued Carey and the brewery “misrepresented” or didn’t disclose information on the value of their shares, denying them the opportunity to obtain “fair value” in selling them, the documents show.

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