NEW YORK, March 16, 2020 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of MGP Ingredients, Inc. (NASDAQ: MGPI) between February 27, 2019 and February 25, 2020, inclusive (the “Class Period”).

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. 

To join the class action, http://zhanginvestorlaw.com/join-action-form/?slug=mgp-ingredients-inc&id=2199 call Sophie Zhang, Esq. toll-free at 800-991-3756 or email info@zhanginvestorlaw.com for information on the class action.

如果您想加入这个集体诉讼案，请在这里提交您的信息。http://zhanginvestorlaw.com/join-action-form/?slug=mgp-ingredients-inc&id=2199

According to the lawsuit, throughout the Class Period, defendants and its senior executives presented false and misleading financial statements or omitted (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.

A class has not been certified.  You may retain counsel of your choice.  You may take no action at this time and be an absent class member.  Your ability to obtain a recovery is not dependent upon being a lead plaintiff.

Zhang Investor Law represents investors worldwide.  Attorney Advertising.  Prior results do not guarantee similar outcomes.

Zhang Investor Law P.C.
99 Wall Street, Suite 232
New York, New York 10005
info@zhanginvestorlaw.com
tel: (800) 991-3756

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