Vintage Wine Estates, Inc.
Lowey Dannenberg Notifies Vintage Wine Estates, Inc. Investors of Securities Class Action Lawsuit and Upcoming Lead Plaintiff Deadline.
Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a securities class action in the USDC – NV against Vintage Wine Estates, Inc. (VWE) on behalf of persons and entities that purchased or otherwise acquired Vintage Wine securities between October 13, 2021 through September 13, 2022 (the “Class Period”).
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, due to a material weakness related to its inventory controls and procedures, the Company lacked a reasonable basis to report inventory metrics;
- that the Company understated its overhead burden in certain quarters, thereby overstating its adjusted EBITDA;
- that, as a result of the foregoing, Vintage Wine was reasonably likely to incur significant charges to restate prior reporting; and
- that, as a result of the foregoing, Defendant’s positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
When the truth was revealed, the price of Vintage Wine Estates’ securities dropped precipitously, injuring investors, and wiping millions of dollars of investor wealth.
If you suffered a loss in Vintage Wine Estates’ securities, and wish to participate, or learn more, click here, or please contact our attorneys at (914) 733-7234 or via email at firstname.lastname@example.org. Any investor who wishes to serve as Lead Plaintiff must act before the court deadline of January 13, 2023.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.
An attorney will contact you at no cost to provide you information about joining the action and answer your questions. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.