Vintage Wine Estates Lawsuit VWE | Deadline January 13, 2023

Vintage Wine Estates Class Action Lawsuit (VWE Lawsuit)

A lawsuit has been filed against Vintage Wine Estates, (VWE:NASDAQ) on November 14, 2022 at the court of the District of Nevada.

Investors who purchased or otherwise acquired VWE common stock during the period from October 13, 2021 through September 13, 2022 can register their information before the deadline of January 13, 2023.

Is Vintage Wine Estates Involved  in a Securities Class Action Lawsuit?

Yes, a lawsuit has been filed against Vintage Wine Estates on November 14, 2022, on behalf of shareholders during the period from October 13, 2021 through September 13, 2022.

What Is The Vintage Wine Estates Lawsuit About?

The Vintage Wine Estates Class Action Lawsuit (NASDAQ:VWE) (Vintage Wine Estates Class Action Lawsuit) was filed on behalf of the investors who purchased Vintage Wine Estates (VWE) securities between October 13, 2021 through September 13, 2022. For more on the VWE Lawsuit please contact us today.

According to the Vintage Wine Estate lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:

(1) that, due to a material weakness related to its inventory controls and procedures, the Company lacked a reasonable basis to report inventory metrics;

(2) that the Company understated its overhead burden in certain quarters, thereby overstating its adjusted EBITDA;

(3) that, as a result of the foregoing, Vintage Wine was reasonably likely to incur significant charges to restate prior reporting; and

(4) 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.

How much did VWE stock drop?

Shareholders who held VWE securities saw price fell $2.23, or 40.3%, to close at $3.30 per share on September 14, 2022, on unusually high trading volume.

What does VWE Do?

Vintage Wine Estates, Inc. produces and sells wines and craft spirits in the United States, Canada, and internationally.

The company offers its products under the Layer Cake, Cameron Hughes, Clos Pegase, B.R. Cohn, Firesteed, Bar Dog, Kunde, Cherry Pie, and others.

It also owns and operates hospitality facilities; and provides bottling, fulfillment, and storage services to other companies on a contract basis.

The company was founded in 2019 and is headquartered in Incline Village, Nevada.

Which Class Action Attorney Firm Can Help With The VWE Lawsuit?

Levi & Korsinsky LLP is a Securities Class Action Law Firm.  For over 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.

Does It Cost Me To Join The VWE Class Action?

No, there are no out of pocket costs for you to join the Vintage Wine Estates Lawsuit.

What Is the Lead Plaintiff Process?

According to the Private Securities Reform Act of 1995, any investor who bought or acquired VWE securities in the Class Period may apply for appointment as a lead plaintiff. The lead plaintiff is usually the movant who has the most financial interest in the relief sought. However, he or she must also be typical or adequate to the putative classes. The VWE class-action lawsuit is directed by the lead plaintiff. To litigate the Vintage Wine Estates Class Action Lawsuit, the lead plaintiff may choose any law firm it wishes. The ability of an investor to share in any future recovery is not tied to being the lead plaintiff in the VWE Class Action Lawsuit.

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