MGP Ingredients(US:MGPI) Prnewswire·2025-02-13 01:10Core Viewpoint - A securities class action lawsuit has been filed against MGP Ingredients, Inc. (MGPI) for allegedly making materially false and misleading statements regarding its business operations and prospects during the class period from May 4, 2023, to October 30, 2024 [1][2]. Group 1: Allegations Against the Company - The lawsuit claims that MGPI's defendants failed to disclose a slowdown in consumption and oversupply of their products, which rendered their positive statements about the company's business misleading [2]. - The complaint indicates that the defendants' statements lacked a reasonable basis at all relevant times, impacting investor decisions [2]. Group 2: Legal Process for Investors - Investors in MGPI have until February 14, 2025, to seek appointment as lead plaintiff representatives in the class action, which involves directing the litigation on behalf of all class members [3]. - The lead plaintiff is typically the investor or group of investors with the largest financial interest in the case, and their decision to serve does not affect their ability to share in any recovery [3]. Group 3: Law Firm Information - Kessler Topaz Meltzer & Check, LLP, the law firm handling the case, has a reputation for prosecuting class actions and has recovered billions for victims of corporate misconduct [4].