MGP Ingredients, Inc. Securities Fraud Class Action

Case Background:
This is a federal securities fraud class action lawsuit on behalf of all persons and entities that purchased or otherwise acquired MGP Ingredients, Inc. (“MGPI”) (NASDAQ: MGPI) common stock between August 2, 2018 and February 26, 2020, inclusive (the “Class Period”).

The complaint alleges that, throughout the Class Period, Defendants made false and misleading statements and/or failed to disclose adverse information concerning MGPI’s business and financial condition. Specifically, the complaint alleges that Defendants failed to disclose that MGPI had not completed any significant sales of its aged whiskey inventory and that MGPI  had been unable to sell its aged whiskey at the price premium represented to investors.  This materially impaired its ability to negotiate significant sales on favorable contract terms, and as a consequence, Defendants’ full-year 2019 financial guidance lacked a reasonable basis and was materially misleading.

Current Status of Case:
On August 31, 2021, the Court granted Defendant’s Motion to Dismiss. This action has concluded.

If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at [email protected]. If you would like additional information about the suit, please click on the link “Submit Your Information” above and fill out the form as promptly as possible.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs’ Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.