Investigation announced for Investors in shares of Lifecore Biomedical, Inc. (NASDAQ: LFCR) over possible Violations of Securities Laws

An investigation was announced for investors of Lifecore Biomedical, Inc. (NASDAQ: LFCR) shares over potential securities laws violations by Lifecore Biomedical, Inc.

Investors who purchased shares of Lifecore Biomedical, Inc. (NASDAQ: LFCR), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Lifecore Biomedical, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Chaska, MN based Lifecore Biomedical, Inc., together with its subsidiaries, operates as an integrated contract development and manufacturing organization in the United States and internationally. Lifecore Biomedical, Inc. reported that its Total Revenue declined from $111.27 million for the 12 months period that ended on May 31, 2022, to $103.26 million for the 12 months period that ended on May 31, 2023, and that its Net Loss over those respective time periods declined from $116.71 million to $99.56 million.

On March 20, 2024, Lifecore Biomedical, Inc. issued its Annual Report on Form 10-K/A for the year ended May 29, 2022, the Company's unaudited consolidated financial statements as of and for the periods ending August 30, 2020, November 29, 2020, February 28, 2021, August 29, 2021, November 28, 2021, February 27, 2022, August 28, 2022, November 27, 2022 and February 26, 2023 included in the Company's Quarterly Reports on Form 10-Q filed with the SEC. Per the Company, the "restatements correct errors involving the calculation of capitalized interest, valuation of inventories, and certain other adjustments related to previously divested businesses reflected in the Prior Financial Statements. In addition, the Company has adjusted certain other items that were previously identified and concluded as immaterial, individually and in the aggregate, to the Prior Financial Statements."

Shares of Lifecore Biomedical, Inc. (NASDAQ: LFCR) declined from $11.46 per share on August 09, 2023, to as low as $4.50 per share on March 20, 2024.

Those who purchased shares of Lifecore Biomedical, Inc. (NASDAQ: LFCR) 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.

This release was published on openPR.