NEW YORK, Dec. 27, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Vintage Wine Estates, Inc. (NASDAQ: VWE).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/vintage-wine-estates-inc-loss-submission-form/?id=34913&from=4
The lawsuit seeks to recover losses for shareholders who purchased Vintage Wine between October 13, 2021 and September 13, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until January 13, 2023 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Vintage Wine Estates, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) due to a material weakness related to its inventory controls and procedures, the Company lacked a reasonable basis to report inventory metrics; (2) the Company understated its overhead burden in certain quarters, thereby overstating its adjusted EBITDA; (3) as a result of the foregoing, Vintage Wine was reasonably likely to incur significant charges to restate prior reporting; and (4) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law
