NEW YORK, Oct. 30, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of MGP Ingredients, Inc. (“MGP” or the “Company”) (NASDAQ: MGPI). Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.

The investigation concerns whether MGP and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

On October 12, 2022, market research firm Spruce Point Management (“Spruce Point”) published a report on MGP. Spruce Point’s report claims that contrary to what the company claims, MGP’s merger with a branded spirits company did not result in an immediate cash gain, but rather lost MGP money, prompting MGP to reduce the price of its branded spirits by 5-50% to clear inventory.

As a result of this news, MGP’s share price fell $5.50 per share, or 5.42%, to close at $95.97 per share on October 12, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomlaw.com

CONTACT:
Robert S Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980