MGP Ingredients, Inc. (NASDAQ: MGPI) Securities Fraud Class Action

Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired MGP Ingredients, Inc. (“MGPI”) (NASDAQ: MGPI) securities between May 4, 2023 and October 30, 2024, inclusive (the “Class Period”).

The Class Period begins on May 4, 2023 when, before the markets opened, MGPI announced its financial results for its first fiscal quarter for 2023, which beat analyst estimates. In its Form 8-K filed with the SEC on the same date, MGPI stated that “[s]ales of brown goods grew 10% from the prior year period to record levels, driven by strong new distillate customer commitments, higher pricing across all brown goods, and stronger than expected customer demand for spot purchases. Within our Branded Spirits segment, revenue grew 2% and we recently realigned our national distribution capabilities with Republic National Distributing Company (“RNDC”) toward the end of the quarter. We believe this realignment with RNDC, as well as continued investment in our premium plus family of spirits brands, continues to position us well for incremental growth and margin expansion opportunities going forward.” Likewise, during the earnings conference call that took place the same day, MGPI highlighted the impressive growth the company was experiencing and reiterated its optimism with regard to demand for the company’s products, including that “demand for our products in each of our three segments remains strong and we believe our business continues to be well positioned.”

The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) there had been a slowdown in consumption and oversupply in their products; and (2) as a result, Defendants’ positive statements about MGPI’S business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Current Status of Case:
On March 25, 2026, the Court granted Defendants’ Motion to Dismiss the Complaint. On April 24, 2026, the Lead Plaintiff appealed the District Court’s dismissal to the United States Court of Appeals for the Tenth Circuit. The appeal is ongoing.

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.