Press release
Lawsuit for Investors in shares of Oatly Group AB (NASDAQ: OTLY) filed
A lawsuit was filed on behalf of investors in Oatly Group AB (NASDAQ: OTLY) shares over alleged securities laws violations.
Investors who purchased shares of Oatly Group AB (NASDAQ: OTLY) have certain options and for certain investors are short and strict deadlines running. Deadline: September 24, 2021. NASDAQ: OTLY investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Sweden based Oatly Group AB, an oatmilk company, provides a range of plant-based dairy products made from oats in Sweden. In May 2021 Oatly Group AB went public and raised over $1.4 billion in its initial public offering by selling shares at $17 per share.
On July 14, 2021, Spruce Point Capital Management, LLC ("Spruce Point"), issued a report entitled "Sour on an Oat-Lier Investment," in which Spruce Point detailed a series of alarming red flags about Oatly.
Specifically, Spruce Point stated that it "Finds Evidence of Revenue, Gross Margin, Net Income And CapEx Overstatement Following Former Employee Interviews Expressing Concerns Regarding the Accuracy of The Financial Statements And Capital Expansion Decisions."
Shares of Oatly Group AB (NASDAQ: OTLY) declined from $29 per share in June to $18.18 per share on July 15, 2021.
The plaintiff claims that between May 20, 2021 and July 15, 2021, that Oatly Group AB (a) overinflated its gross margins, revenue, and capital expenditure financial metrics; (b) overstated the proprietary nature of its formulas and manufacturing process; (c) exaggerated its success in China; and (d) as a result of the foregoing, Oatly’s statements about its operations, business, and prospects were misleading between May 20, 2021 and July 15, 2021.
Those who purchased shares of Oatly Group AB (NASDAQ: OTLY) have certain options and should contact the Shareholders Foundation.
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 lawsuits, 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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