#United States #New York #Class Action #MGP Ingredients #MGPI

MGP Ingredients Shareholder Class Action Lawsuit Update

The Gross Law Firm has announced an important notice for shareholders of MGP Ingredients, Inc. (NASDAQ: MGPI) regarding the ongoing class action lawsuit. Shareholders who acquired shares during the specified class period are encouraged to reach out concerning a potential appointment as lead plaintiff. However, it's important to note that this appointment is not a prerequisite for participating in any recovery.

Class Period Details

The relevant class period outlined in the legal claim runs from May 4, 2023, to October 30, 2024. Allegations state that during this time, defendants made materially false and misleading statements and withheld essential facts about MGP's business performance and future prospects. Specifically, it is claimed that MGP's management misrepresented the strength of demand for their products, particularly in the market for brown goods such as American whiskies and tequila.

Allegations of Misrepresentation

The allegations indicate that while the management emphasized robust consumer demand and normal inventory levels, the reality was quite different. Reports suggest a slowdown in product consumption and an oversupply situation that management allegedly failed to disclose. Furthermore, investors were led to believe that MGP was taking steps to mitigate risks associated with their inventory status. In truth, these measures were reportedly not implemented, leaving investors vulnerable to losses based on inflated stock values.

Need for Immediate Action

Shareholders are advised to register their interest promptly if they wish to be considered for the role of lead plaintiff. The deadline for this action is approaching fast, with a cutoff date set for February 14, 2025. Interested parties can register their information through the provided link: Register Here and will gain access to monitoring tools to track the case's progress.

Importance of the Gross Law Firm

The Gross Law Firm is a reputable class action firm dedicated to protecting investor rights and ensuring corporate accountability. Committed to fighting against deceitful business practices, the firm has assembled a portfolio of successful actions aimed at restoring investors who have suffered due to misrepresentation by companies in the marketplace. Interested shareholders can contact the firm at:

• - Address: 15 West 38th Street, 12th floor, New York, NY, 10018
• - Phone: (646) 453-8903
• - Email: inves[email protected]

In summary, shareholders of MGP Ingredients should not delay in participating in this lawsuit, especially given the serious allegations that have come to light. The importance of acting swiftly to secure one's interests in the face of alleged corporate non-disclosure cannot be understated. Registering for this case does not carry a cost or obligation, so affected shareholders are strongly encouraged to take action before the deadline is reached.