(English) MGP Ingredients, Inc.
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(English) SHAREHOLDER ALERT: Zhang Investor Law Announces a Securities Class Action Lawsuit Against MGP Ingredients, Inc. – MGPI
New York, N.Y., March 4, 2020. Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of MGP Ingredients, Inc. (NASDAQ: MGPI) between February 27, 2019 and February 25, 2020, inclusive (the “Class Period”).
To join the MGPI class action, go to http://zhanginvestorlaw.com/cases/mgp-ingredients-inc/ call Sophie Zhang, Esq. toll-free at 800-991-3756 or email firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU NEED NOT BE A LEAD PLAINTIFF IN ORDER TO OBTAIN COMPENSATION.
According to the lawsuit, throughout the Class Period (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) as a result of the foregoing, the defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 28, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://zhanginvestorlaw.com/cases/mgp-ingredients-inc/ or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. of Zhang Investor Law toll free at 800-991-3756 or via e-mail at email@example.com.
Zhang Investor Law represents investors worldwide.