MGPI ALERT: Bragar Eagel & Squire, P.C. is Investigating MGP Ingredients, Inc. on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm

Core Viewpoint - Bragar Eagel & Squire, P.C. is investigating potential claims against MGP Ingredients, Inc. regarding breaches of fiduciary duties by the board of directors following a class action complaint related to significant stock price declines due to misrepresentations about inventory and sales projections [1][2][3]. Company Overview - MGP Ingredients, Inc. is a manufacturer of various hard liquors including tequila, bourbon, rye, whiskey, vodka, and gin, selling products under its own brands and to other distributors [2]. Industry Context - Sales of hard liquors surged during the COVID-19 pandemic but have since slowed as quarantines ended, leading to increased inventory levels across the alcoholic beverage industry [2]. Legal Allegations - The class action complaint alleges that during the class period from May 4, 2023, to October 30, 2024, MGPI misled investors by assuring them that it was well-prepared for the industry slowdown and that its sales projections were accurate [2]. Stock Performance Impact - Following announcements of a slowdown in demand and excess inventory, MGPI's stock price fell by 29.5% on October 17, 2024, and an additional 14.7% on October 31, 2024, resulting in a total decline of nearly 50% and significant loss in market capitalization [3].