NEW YORK, NY / ACCESSWIRE / November 8, 2024 / Pomerantz LLP is investigating claims on behalf of investors of MGP Ingredients, Inc. ("MGP" or the "Company") (NASDAQ:MGPI). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether MGPI and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On October 17, 2024, MGP announced that, for the third quarter ended September 30, 2024, as compared to the third quarter of 2023, "[s]ales are expected to decline 24%," "[a]djusted net income is expected to decline 5%," and "[a]djusted EBITDA is expected to decline 9%." The Company also announced that it "now expects financial results to be below the expectations confirmed during its second quarter conference call held on August 1, 2024."
On this news, MGP's stock price fell $19.71 per share, or 24.16%, to close at $61.86 per share on October 18, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP
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