1. MGP Ingredients faces a class action lawsuit for alleged securities fraud. 2. The lawsuit claims misleading statements regarding demand and inventory levels. 3. Defendants did not disclose a slowdown in consumption of brown goods. 4. Investors have until February 14, 2025, to join the lawsuit. 5. Levi & Korsinsky has a strong history in securities litigation.
Lawsuits typically harm stock prices, as seen with other companies facing similar claims.
The lawsuit suggests potential for substantial losses, which directly affects investor sentiment about MGPI.
Legal proceedings can lead to immediate negative market reactions lasting weeks or months.
/PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in MGP Ingredients, Inc. ("MGP Ingredients, Inc." or the "Company") (NASDAQ: MGPI) of a class action securities lawsuit.
The lawsuit seeks to recover losses on behalf of MGP Ingredients, Inc. investors who were adversely affected by alleged securities fraud between May 4, 2023 and October 30, 2024. Follow the link below to get more information and be contacted by a member of our team:
https://zlk.com/pslra-1/mgp-ingredients-inc-lawsuit-submission-form?prid=127515&wire=4
MGPI investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
According to the filed complaint, throughout the class period, defendants 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.
If you suffered a loss in MGP Ingredients, Inc. during the relevant time frame, you have until February 14, 2025 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.
If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP