LOS ANGELES, CA / ACCESSWIRE / November 25, 2022 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Vintage Wine Estates, Inc. ("Vintage Wine" or "the Company") (NASDAQ:VWE) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between October 13, 2021 and September 13, 2022, inclusive (the ''Class Period''), are encouraged to contact the firm before January 13, 2023.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Vintage Wine suffered from material weaknesses in its inventory controls and procedures which left it with no basis to accurately report inventory metrics. The Company overstated its adjusted EBITDA by downplaying its overheard burden in certain quarters. The Company was likely to incur material charges to restate prior earnings. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Vintage Wine, investors suffered damages.
Join the caseto recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]
SOURCE: The Schall Law Firm