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Deadline on April 27th coming up for Investors in shares of MGP Ingredients, Inc. (NASDAQ: MGPI)

04-13-2020 06:19 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A Deadline is coming up on April 27, 2020in the lawsuit for certain investors in MGP Ingredients, Inc. (NASDAQ: MGPI).

A Deadline is coming up on April 27, 2020in the lawsuit for certain investors in MGP Ingredients, Inc. (NASDAQ: MGPI).

The Shareholders Foundation announced that a deadline is coming up on April 27, 2020 in the lawsuit filed for certain investors of MGP Ingredients, Inc. (NASDAQ: MGPI) over alleged securities laws violations by MGP Ingredients, Inc. (NASDAQ: MGPI).

Investors who purchased shares of MGP Ingredients, Inc. (NASDAQ: MGPI) have certain options and there are strict and short deadlines running. Deadline: April 27, 2020. NASDAQ: MGPI stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint filed in the U.S. District Court for the District of Kansas the plaintiff alleges on behalf of purchasers of MGP Ingredients, Inc. (NASDAQ: MGPI) common shares between February 27, 2019 and February 25, 2020, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 27, 2019 and February 25, 2020, the defendants failed to disclose that MGP Ingredients, Inc. had not completed any significant sales of its aged whiskey inventory, the Company had been unable to sell its aged whiskey at the price premium represented to investors, 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, and as a consequence, defendants' full-year 2019 financial guidance lacked a reasonable basis and was materially misleading, and that as a result of this information being withheld from the market, the price of MGP Ingredients, Inc. common stock was artificially inflated to a high of more than $88 per share between February 27, 2019 and February 25, 2020.

Those who purchased shares of MGP Ingredients, Inc. (NASDAQ: MGPI) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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