NEW YORK, NY / ACCESS WIRE / November 8, 2024 / Pomerantz LLP, MGP Ingredients, Inc. (“MGP” or the “Company”) is investigating claims on behalf of (NASDAQ:MGPI) investors. Such investors are encouraged to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether MGPI and certain of its officers and/or directors engaged in securities fraud or other illegal business practices.

(Click here for information about joining the class action)

On October 17, 2024, MGP announced that “(s)ales are expected to decrease by 24%” in the third quarter ending September 30, 2024 compared to the third quarter of 2023, “(a)djusted net income is expected to decrease by 5%” and “(a)djusted EBITDA is expected to decline 9%.” The company also announced that it “expects financial results to be below expectations confirmed in the second quarter conference call 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.

With offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, Pomerantz LLP is recognized as one of the leading firms in the areas of corporate, securities, and antitrust class actions. 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, after more than 85 years, Pomerantz continues the tradition he established by fighting for the rights of victims of securities fraud, breach of fiduciary duty, and corporate misconduct. The firm recovered multiple multimillion-dollar damages awards on behalf of class members. To see www.pomlaw.com.

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SOURCE: Pomerantz LLP

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