Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In MGP Ingredients To Contact Him Directly To Discuss Their Options

If you suffered losses exceeding $100,000 in MGP Ingredients between May 4, 2023 and October 30, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

[You may also click here for additional information]

Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against MGP Ingredients, Inc. (“MGPI” or the “Company”) (NASDAQ: MGPI) and reminds investors of the February 14, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: its projections and statements accounted for the industry slowdown and that it was well-positioned to avoid a buildup of inventory. The Company also incorrectly claimed that its projected sales took these industry trends into account.

The complaint alleges that on October 17, 2024, MGPI finally admitted that soft demand and high inventories were undermining sales. On this news, MGPI’s share price declined $24.07 per share, or 29.5%, from a closing price of $81.57 per share to a closing price of $57.50 per share three trading days later on October 22, 2024.

Then, on October 31, 2024, defendants confessed that the excess inventories would have an “even greater impact” on sales in 2025 than previously stated, forcing the Company to scale back certain operations to save money. On this news, MGPI's stock price fell $8.27 per share, or 14.7%, to close at $48.08 per share.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding MGP Ingredients’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the MGP Ingredients class action, go to www.faruqilaw.com/MGPI or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Follow us for updates on LinkedIn, on X, or on Facebook.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250204597077/en/