NEW YORK, NY / ACCESSWIRE / March 25, 2020 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.
MGPI Shareholders Click Here: https://www.zlk.com/pslra-1/mgp-ingredients-inc-loss-form?prid=5798&wire=1
CAN Shareholders Click Here: https://www.zlk.com/pslra-1/canaan-inc-loss-form?prid=5798&wire=1
XP Shareholders Click Here: https://www.zlk.com/pslra-1/xp-inc-loss-form?prid=5798&wire=1
* ADDITIONAL INFORMATION BELOW *
MGP Ingredients, Inc. (NASDAQ:MGPI)
MGPI Lawsuit on behalf of: investors who purchased February 27, 2019 - February 25, 2020
Lead Plaintiff Deadline : April 28, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/mgp-ingredients-inc-loss-form?prid=5798&wire=1
According to the filed complaint, during the class period, MGP Ingredients, Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) MGP had not completed any significant sales of its four-year-old aged whiskey inventory; (b) the Company had been unable to sell its aged whiskey at the price premium represented to investors; (c) a glut of aged whiskey inventory and shifts in consumer behavior had lowered the value of the Company's aged whiskey inventory and materially impaired its ability to negotiate significant sales on favorable contract terms; and (d) in light of the foregoing, the Company's FY19 financial forecast lacked a reasonable basis and was materially misleading.
Canaan Inc. (NASDAQ:CAN)
CAN Lawsuit on behalf of: investors who purchased publicly traded securities of Canaan, including its American Depository Shares pursuant and/or traceable to the Company's registration statement and related prospectus issued in connection with the Company's November 20, 2019 initial public offering.
Lead Plaintiff Deadline : May 4, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/canaan-inc-loss-form?prid=5798&wire=1
According to the filed complaint, (1) the purported "strategic cooperation" was actually a transaction with a related party; (2) the company's financial health was worse than what was actually reported; (3) the company had recently removed numerous distributors from its website just prior to the initial public offering, many of which were small or suspicious businesses; and (4) several of the Company's largest Chinese clients in prior years were clients who were not in the Bitcoin mining industry and, thus, would likely not be repeat customers.
XP Inc. (NASDAQ:XP)
XP Lawsuit on behalf of: investors who purchased or otherwise acquired XP's securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with XP's December 2019 initial public offering.
Lead Plaintiff Deadline : May 20, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/xp-inc-loss-form?prid=5798&wire=1
According to the filed complaint, (1) XP engaged in undisclosed related party transactions; (2) XP failed to disclose its common and large system failures and connected losses; (3) XP's aggressive IFA strategy was and is tenuous; (4) XP had material weaknesses; (5) XP fired its previous accounting firm due to that firm finding and disclosing material weaknesses; and (6) as a result, Defendants' public statements were materially false and misleading at all relevant times.
You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE: Levi & Korsinsky, LLP
View source version on accesswire.com:
https://www.accesswire.com/582493/CLASS-ACTION-UPDATE-for-MGPI-CAN-and-XP-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders
