NEW YORK--(BUSINESS WIRE)--Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against of MGP Ingredients, Inc. ("MGP" or "the Company") (NASDAQ: MGPI) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired MGP securities between February 27, 2019 and February 25, 2020, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/mgpi.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) MGP had not completed any significant sales of its four-year-old aged-whiskey inventory; (2) the Company had been unable to sell its aged whiskey at the price premium represented to investors; (3) a glut of aged whiskey inventory and shifts in consumer behavior had lowered the value of the Company’s aged whiskey inventory and materially impaired its ability to negotiate significant sales on favorable contract terms; (4) in light of the foregoing, the Company’s fiscal year 2019 financial forecast lacked a reasonable basis and was materially misleading; and (5) consequently, the defendants’ public statements were materially false and misleading at all relevant times.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/mgpi or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in MGP you have until April 29, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.