MGPI LAWSUIT ALERT: Levi & Korsinsky Notifies MGP Ingredients, Inc. Investors of a Class Action Lawsuit and Upcoming Deadline

Key Takeaways:

• Class action lawsuit filed against MGP Ingredients, Inc.
• Company accused of misleading investors about brown goods demand and inventory.
• Investors affected between May 4, 2023, and October 30, 2024, may be eligible to join.
• Deadline to seek lead plaintiff status is February 14, 2025.
• Levi & Korsinsky, LLP brings extensive securities litigation experience to the case.

Investors File Lawsuit Against MGP Ingredients

A class action lawsuit has been filed against MGP Ingredients, Inc. (NASDAQ: MGPI), alleging that the company engaged in securities fraud by providing misleading information to investors. The law firm Levi & Korsinsky, LLP announced that it is representing shareholders who purchased MGPI securities between May 4, 2023, and October 30, 2024.

Allegations of Misleading Statements

The lawsuit claims that during the specified period, MGP Ingredients made materially false and misleading statements regarding the demand and inventory levels of their brown goods segment, which includes American whiskies and tequila. Defendants allegedly touted “strong demand” and “normal” inventory levels when, in reality, there was a slowdown in consumption and an oversupply of products.

Furthermore, the company is accused of assuring investors that it was differently positioned compared to competitors and had taken steps to mitigate risks associated with the market conditions. The lawsuit contends that these statements were false and that the company had not implemented effective measures to address the oversupply issues.

Impact on Investors

As a result of the alleged misrepresentations, investors who purchased MGPI shares during the class period may have suffered significant losses. The lawsuit seeks to recover damages on behalf of these investors, asserting that they were adversely affected by the company’s actions.

Legal Actions and Deadlines

Investors who bought MGPI securities between May 4, 2023, and October 30, 2024, have until February 14, 2025, to request that the court appoint them as lead plaintiff in the case. Serving as a lead plaintiff is not mandatory to participate in any potential recovery but allows investors to take a more active role in the litigation process.

There are no out-of-pocket costs or fees associated with joining the lawsuit, and investors may be entitled to compensation without any financial obligation.

About Levi & Korsinsky, LLP

Levi & Korsinsky, LLP is a nationally recognized law firm specializing in securities litigation. With over 70 employees, the firm has secured hundreds of millions of dollars for aggrieved shareholders over the past 20 years. For seven consecutive years, Levi & Korsinsky has been listed in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.

Next Steps for Affected Investors

Investors interested in participating in the lawsuit or seeking additional information can contact Levi & Korsinsky, LLP. Joseph E. Levi, Esq. is available via email at

Affected shareholders are encouraged to consider their legal options promptly, as the deadline to seek lead plaintiff status is approaching. The outcome of this lawsuit could potentially compensate investors for losses incurred due to the alleged securities fraud by MGP Ingredients, Inc.