NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of all purchasers of common stock of MGP Ingredients, Inc. (NASDAQ: MGPI) between May 4, 2023 and October 30, 2024. MGPI describes itself as a company that “engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally.”
For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.
The Allegations: Rosen Law Firm is Investigating the Allegations that MGP Ingredients, Inc. (NASDAQ: MGPI) Misled Investors Regarding its Business Operations.
According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements, and failed to disclose material adverse facts about MGPI’s business, operations, and prospects. Specifically, defendants repeatedly touted a strong demand and “normal” inventory levels in brown goods (i.e., American whiskies and tequila), when in fact there had been a slowdown in consumption and oversupply in their products. Worse, defendants had assured investors that they were positioned differently than their competitors, and that this was a non-issue, because MGPI had already taken steps to mitigate the risk, when in fact it had not. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against MGP Ingredients, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by February 14, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders.
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