Scrutiny of Suja Life, Inc. has widened after Hagens Berman said it opened an investigation into potential federal securities law violations tied to the company's May 2026 initial public offering, adding to an earlier probe announced by Rosen Law Firm. Hagens Berman said it is examining whether Suja's IPO registration statement and prospectus contained materially false or misleading statements about the strength, resiliency and channel stability of its organic beverage business. Suja sold about 8.9 million Class A shares at $21.00 each in May 2026, raising $173 million. In the offering documents, the company said its business could scale responsibly while delivering attractive long-term returns and described its growth model as resilient across market cycles. Hagens Berman pointed to Suja's Aug. 4, 2026 second-quarter results, which it said showed a 21% sequential drop in sales and a 7.5% sequential decline in gross profit margin, alongside a cut to full-year revenue and growth guidance tied to softness in the grocery channel. The release also cited management's earnings-call comments that third-quarter sales were expected to decline by mid-single digits, that grocery was under pressure and that the company used steep promotional discounting to drive volume in other channels. Suja shares fell 46% on Aug. 5, 2026, according to both law-firm announcements, and Hagens Berman said the stock later traded more than 70% below its IPO price. The firm said it is investigating whether Suja was sufficiently transparent about its vulnerability to market cycles and said whistleblowers with non-public information may be eligible for SEC rewards of up to 30% of a successful recovery.