Investors who lost money with shares of MGP Ingredients, Inc. (NASDAQ: MGPI) should contact the Shareholders Foundation in connection with pending lawsuit

An investor, who purchased shares of MGP Ingredients, Inc. (NASDAQ: MGPI), filed a lawsuit over alleged violations of Federal Securities Laws by MGP Ingredients, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of MGP Ingredients, Inc. (NASDAQ: MGPI) have certain options and for certain investors are short and strict deadlines running. Deadline: February 14, 2025. NASDAQ: MGPI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Atchinson KS based MGP Ingredients, Inc., together with its subsidiaries, engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally. MGP Ingredients, Inc. reported that its annual Total Revenue rose from $782.35 million in 2022 to $836.52 million in 2023 and that its Net Income declined from $109.46 million in 2022 to $107.47 million in 2023.

On October 17, 2024, MGP Ingredients, Inc. announced it preliminary results for third quarter 2024. MGP Ingredients, Inc. revealed, among other things, that it expected sales from its Distilling Solutions segment to decline 36%.

Then, on October 31, 2024, MGP Ingredients, Inc. released its third quarter 2024 financial results. During the associated earnings call, the Company confirmed the previously announced 36% decline in Distilling Solutions sales.

Shares of MGP Ingredients, Inc. (NASDAQ: MGPI) declined from $92.52 per share on August 26, 2024, to as low as $35.40 per share on January 08, 2025.

The plaintiff claims that between May 4, 2023 and October 30, 2024, the 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, and that between May 4, 2023 and October 30, 2024 investors acquired shares of MGPI common stock at artificially inflated prices due to Defendants' allegedly false and misleading statements.

Those who purchased shares of MGP Ingredients, Inc. (NASDAQ: MGPI) 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.