Bronstein, Gewirtz & Grossman, LLC Files Class Action Lawsuit Against MGP Ingredients, Inc.
New York, NY – January 29, 2025
Bronstein, Gewirtz & Grossman, LLC, a renowned law firm, has announced the filing of a class action lawsuit against MGP Ingredients, Inc. (“MGP Ingredients” or “the Company”) (NASDAQ:MGPI) and certain of its officers. The lawsuit alleges violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired MGP Ingredients securities between May 3, 2023, and October 30, 2024.
Class Definition
The lawsuit, filed in the United States District Court for the District of Kansas, seeks to recover damages against Defendants for their alleged failure to disclose material information during the Class Period. The Class Period refers to the time frame between May 3, 2023, and October 30, 2024.
Allegations
The complaint alleges that MGP Ingredients and its officers made false and misleading statements and failed to disclose material information regarding the Company’s business, operations, and financial condition. Specifically, the lawsuit alleges that the defendants failed to disclose:
- Issues with the Company’s grain supply and quality
- Decreased demand for certain of the Company’s products
- Lower-than-expected sales and earnings
- Inadequate disclosures regarding the Company’s internal controls
Impact on Individual Investors
If you purchased or otherwise acquired MGP Ingredients securities during the Class Period, you may be eligible to join the class action lawsuit as a lead plaintiff. Lead plaintiffs are usually the largest institutional investors with the most significant financial interest in a security. These investors are responsible for actively managing the litigation and for directing the actions of the class. If a settlement is reached or the lawsuit is otherwise resolved, lead plaintiffs may receive a proportionately larger share of the settlement funds or other benefits.
Impact on the World
The class action lawsuit against MGP Ingredients has significant implications for the broader market, particularly for investors in the food and beverage industry. The allegations of misrepresentation and failure to disclose material information could lead to increased scrutiny of other companies in the sector. Additionally, the lawsuit may result in increased litigation risk for publicly traded companies and their officers, potentially leading to higher costs and increased regulatory oversight.
Conclusion
The filing of a class action lawsuit against MGP Ingredients and its officers is a serious matter with potentially far-reaching consequences for investors and the broader market. If you purchased MGP Ingredients securities during the Class Period, you may be eligible to join the lawsuit as a lead plaintiff. As the litigation unfolds, it is essential to stay informed about the latest developments and potential implications for your investment portfolio.
Bronstein, Gewirtz & Grossman, LLC is dedicated to ensuring that its clients receive the compensation they are entitled to. If you have any questions or wish to discuss this matter further, please contact the firm at (212) 697-6484 or [email protected].
This press release is not a solicitation for investment. Bronstein, Gewirtz & Grossman, LLC urges investors to consult with their financial advisors and lawyers before making any investment decisions.
