Lawsuit for Investors Who Lost Money With Vintage Wine Estates, Inc. (NASDAQ:VWE) Shares Announced by the Shareholders Foundation

SAN DIEGO, CA / ACCESSWIRE / January 24, 2023 / The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in Vintage Wine Estates, Inc. VWE shares.

Investors who purchased Vintage Wine Estates, Inc. VWE shares prior to October 2021 and continue to hold any of their NASDAQ:VWE shares have also certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On November 14, 2022, a lawsuit was filed against Vintage Wine Estates, Inc. over alleged violations of Securities Laws. The plaintiff alleges that the 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, Defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.

Those who purchased Vintage Wine Estates, Inc. VWE shares should contact the Shareholders Foundation, Inc.

CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

SOURCE: Shareholders Foundation, Inc.