NEW YORK, March 09, 2020 (GLOBE NEWSWIRE) -- Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of MGP Ingredients, Inc. (NASDAQ: MGPI) from February 27, 2019 through February 25, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for MGP Ingredients, Inc. investors under the federal securities laws.

To join the class action, go here or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) MGP had not completed any significant sales of its four-year-old aged-whiskey inventory; (2) the Company had been unable to sell its aged whiskey at the price premium represented to investors; (3) 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; (4) in light of the foregoing, the Company’s fiscal year 2019 financial forecast lacked a reasonable basis and was materially misleading; and (5) as a result of the foregoing, the defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

If you wish to serve as lead plaintiff, you must move the Court no later than April 28, 2020.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

No class has been certified.  Until a class is certified, you are not represented by counsel unless you hire one.  You may hire counsel of your choice.  You may also do nothing at this time and be an absent member of the class.  Your ability to share in any future recovery is not dependent upon being a lead plaintiff. 

Pawar Law Group represents investors from around the world. Attorney advertising. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
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Contact:  
Vik Pawar, Esq.  
Pawar Law Group  
20 Vesey Street, Suite 1410  
New York, NY 10007  
Tel: (917) 261-2277  
Fax: (212) 571-0938  
info@pawarlawgroup.com