tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Smart for Life Files $30M Lawsuit Against RBSM LLP

Story Highlights
  • Several board members of Smart for Life, Inc. resigned on December 4, 2025.
  • Smart for Life, Inc. filed a lawsuit against RBSM LLP for alleged negligence causing Nasdaq delisting.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Smart for Life Files $30M Lawsuit Against RBSM LLP

Claim 50% Off TipRanks Premium and Invest with Confidence

Smart for Life, Inc. ( (SMFL) ) has shared an announcement.

On December 4, 2025, several members of Smart for Life, Inc.‘s Board of Directors, including Alfonso J. Cervantes, Jr., resigned, with Cervantes transitioning to an advisory role. These resignations were not due to any disagreements with the company’s operations or policies. Additionally, on December 2, 2025, Smart for Life, Inc. filed a lawsuit against its former accounting firm, RBSM LLP, in Palm Beach County, Florida, seeking over $30 million in damages. The lawsuit claims that RBSM LLP’s negligence led to the company’s delisting from the Nasdaq Stock Market in 2024, significantly impacting its market capitalization and harming shareholders.

Spark’s Take on SMFL Stock

According to Spark, TipRanks’ AI Analyst, SMFL is a Underperform.

Smart for Life, Inc. faces significant financial difficulties, as evidenced by declining revenues and negative equity. Technical indicators suggest a bearish trend with lack of momentum. Valuation metrics are unattractive, and the recent earnings call provided limited insights. Overall, the company needs substantial strategic improvements to enhance its financial health and stock performance.

To see Spark’s full report on SMFL stock, click here.

More about Smart for Life, Inc.

Average Trading Volume: 39,619

Technical Sentiment Signal: Sell

Current Market Cap: $16.31K

Learn more about SMFL stock on TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1