NEW YORK, NY / ACCESSWIRE / April 3, 2020 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
Luckin Coffee Inc. (NASDAQ:LK)
Investors Affected : November 13, 2019 - January 31, 2020
A class action has commenced on behalf of certain shareholders in Luckin Coffee Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) certain of Luckin's financial performance metrics, including per-store per-day sales, net selling price per item, advertising expenses, and revenue contribution from "other products" were inflated; (ii) Luckin's financial results thus overstated the Company's financial health and were consequently unreliable; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/luckin-coffee-inc-loss-submission-form/?id=5902&from=1
MGP Ingredients, Inc. (NASDAQ:MGPI)
Investors Affected : February 27, 2019 - February 25, 2020
A class action has commenced on behalf of certain shareholders in MGP Ingredients, Inc. The filed complaint alleges that defendants 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.
Shareholders may find more information at https://securitiesclasslaw.com/securities/mgp-ingredients-inc-loss-submission-form/?id=5902&from=1
Hanmi Financial Corporation (NASDAQ:HAFC)
Investors Affected : August 12, 2019 - January 28, 2020
A class action has commenced on behalf of certain shareholders in Hanmi Financial Corporation. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the $40.7 million troubled loan that the Company disclosed on conference calls would necessitate further and future specific provisions for the Company - in the millions; (2) the same $40.7 million troubled loan would necessitate the Company to appraise and take personal property securing a portion of the amount of the loan; and (3) as a result, Defendants' public statements were materially false and misleading at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/hanmi-financial-corporation-loss-submission-form/?id=5902&from=1
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770
SOURCE: The Gross Law Firm
View source version on accesswire.com:
https://www.accesswire.com/583791/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-LK-MGPI-and-HAFC
