MGP Ingredients, Inc. Class Action Lawsuit Alert: Johnson Fistel Announces Shareholders with Losses Should Contact the Law Firm for More Information

SAN DIEGO, Dec. 30, 2024 (GLOBE NEWSWIRE) — Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of MGP Ingredients, Inc. (NASDAQ: MGPI). The lawsuit seeks to recover losses on behalf of investors who acquired securities between May 4, 2023 and October 30, 2024. Investors have until February 14, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit.

If you incurred significant losses and want to act as the lead plaintiff in the MGP Ingredients class action lawsuit or determine if you are eligible to receive a potential recovery of your losses, please submit your details here: https://www.johnsonfistel.com/investigations/mgp-ingredients-inc

Contact for More Information: James Baker, (619) 814-4471, [email protected] or [email protected] 

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.

Investor Action Steps: Shareholders who incurred losses during the class period, have until February 14, 2025, to move the court to become a lead plaintiff in this action. A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.

About Johnson Fistel, LLP | Top Law Firm, Securities Fraud, Investors Rights:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. We also extend our services to foreign investors who have purchased on US exchanges. Stay updated with news on stock drops and learn how Johnson Fistel, LLP can help you recover your losses. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.

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Johnson Fistel, LLP has paid for the dissemination of this promotional communication, and Frank J. Johnson is the attorney responsible for its content.

Contact:
Johnson Fistel, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
[email protected] or [email protected]

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