Notice to Long-Term Shareholders of Lifecore Biomedical, Inc. (LFCR): Grabar Law Office Investigates Claims on Your Behalf as Securities Fraud Class Action Settles

Core Viewpoint - Grabar Law Office is investigating claims on behalf of shareholders of Lifecore Biomedical, Inc. regarding a securities fraud class action settlement, focusing on potential breaches of fiduciary duties by certain officers and directors [1][3]. Group 1: Settlement and Investigation - A federal securities class action against Lifecore Biomedical has reached a settlement, alleging that the company made materially false and misleading statements about its business and financial operations [3]. - The investigation is centered on whether Lifecore maintained adequate internal controls over financial reporting, which led to inaccurate financial statements that required restatement [3]. - The settlement allows shareholders who held shares before October 7, 2020, to seek corporate reforms and the return of funds to the company at no cost [2][4]. Group 2: Allegations and Implications - The class action complaint claims that Lifecore's remediation efforts regarding financial reporting deficiencies were ineffective, impairing its ability to file timely reports with the SEC [3]. - The allegations suggest that Lifecore's financial position and prospects were materially overstated, leading to misleading public statements throughout the relevant period [3].