PHILADELPHIA, Feb. 20, 2025 (GLOBE NEWSWIRE) —
MGP Ingredients, Inc. :
Grabar Law Office is investigating claims on behalf of shareholders of MGP Ingredients, Inc. . The investigation concerns whether certain officers of MGP Ingredients breached the fiduciary duties they owed to the Company.
Current shareholders who acquired MGP Ingredients prior to May 4, 2023, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them. Visit https://grabarlaw.com/the-latest/MGPI-shareholder-investigation/ or contact Joshua H. Grabar at jgrabar@grabarlaw.com or call 267-507-6085 to learn more.
Why? MGP Ingredients, Inc. manufactures alcoholic beverages and food ingredients. MGPI sells its own products under its own brand names as well as to manufacturers of other branded spirits.
As alleged in an underlying securities fraud class action complaint, sales of hard liquors, such as those produced and sold by MGPI, increased dramatically in the wake of COVID-19. However, as quarantines ended, sales of hard liquors slowed across the alcoholic beverage industry, and a backlog of inventory began to increase.
The underlying securities fraud class action complaint alleges that MGP Ingredients, Inc. , via certain of its officers, made materially false and/or misleading statements, and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, it is alleged that Defendants repeatedly touted a strong demand and “normal” inventory levels in brown goods (such as American whiskies and tequila), when in fact there had been a slowdown in consumption and oversupply in their products.
What You Can Do Now? If you are a current shareholder who acquired MGPI shares prior to May 4, 2023, you can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to you whatsoever. You are encouraged to visit https://grabarlaw.com/the-latest/MGPI-shareholder-investigation/ or contact Joshua H. Grabar at jgrabar@grabarlaw.com or call 267-507-6085 for further assistance. $MGPI #MGPI #MGPIngredients
ModivCare, Inc. :
Grabar Law Office is investigating claims on behalf of ModivCare, Inc. shareholders. The investigation concerns whether certain officers of ModivCare have breached the fiduciary duties they owed to the company.
Current ModivCare shareholders who have held ModivCare shares since prior to November 3, 2022, can seek corporate reforms, the return of funds back to the company, and a court approved incentive award - all at no cost to them whatsoever. To learn more visit: https://grabarlaw.com/the-latest/modivcare-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085.
Why: A recently filed securities fraud class action complaint alleges that throughout the Class Period (November 3, 2022 through September 15, 2024), ModivCare misled the market to believe certain contracts used in its non-emergency medical transportation (“NEMT”) segment mitigated risks to its free cash flow. In reality, the Company’s free cash flow deteriorated throughout the Class Period. When the truth began to reach the market, ModivCare’s stock price suffered significant declines, harming investors.
It is alleged that Defendants made materially false and/or misleading statements, as well as failed to disclose adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose that certain contracts used in ModivCare’s NEMT segment caused the Company’s free cash flow to deteriorate and that, as a result, (1) contract renegotiations and pricing accommodations negatively impacted the Company’s adjusted EBITDA; (2) the Company had insufficient liquidity; and (3) Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
What You Can Do Now: Current ModivCare shareholders who have held ModivCare shares since prior to November 3, 2022, can seek corporate reforms, the return of funds back to the company, and a court approved incentive award - all at no cost to them whatsoever. If you would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/modivcare-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085. #ModivCare $MODV
Monolithic Power Systems, Inc. :
Grabar Law Office is investigating claims on behalf of Monolithic Power Systems, Inc. shareholders. The investigation concerns whether certain officers and directors of Monolithic have breached their fiduciary duties owed to the company.
Current Monolithic shareholders who have held shares of the Company’s stock since prior to February 8, 2024, can seek corporate reforms, the return of funds back to the company, and potentially a court approved incentive award if appropriate, at no cost to them whatsoever. Click here to learn more: https://grabarlaw.com/the-latest/mpwr-shareholder-investigation/.
WHY: A recently filed securities fraud class action Complaint alleges that, Monolithic Power Systems, Inc. , via certain of its officers, made false and/or misleading statements and/or failed to disclose that: (i) Monolithic’s voltage regulator modules and power management integrated circuits were suffering from significant performance and quality control issues; (ii) these defects had, in turn, negatively impacted the performance of certain products offered by Nvidia in which such products were used; (iii) Monolithic had failed to adequately address and resolve known issues affecting the performance of the power management solutions Monolithic supplied to Nvidia; (iv) Monolithic’s relationship with Nvidia - the Company's most important customer - had been irreparably damaged due to the significant performance and quality control problems affecting the products it supplied to Nvidia and Monolithic’s failure to adequately address such issues; and (v) as a result of the above, Monolithic was acutely exposed to material undisclosed risks of significant business, financial, and reputational harm.
WHAT YOU CAN DO NOW: If you have held Monolithic shares since prior to February 8, 2024, you can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to you whatsoever.
Please visit https://grabarlaw.com/the-latest/mpwr-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com or Mia Heller at mheller@grabarlaw.com, or call us at 267-507-6085. #MonolithicPower #MPWR $MPWR
Driven Brands Holdings, Inc. :
Grabar Law Office is investigating claims on behalf of long-term Driven Brands Holdings, Inc. shareholders. The investigation concerns whether certain officers of the company have breached their fiduciary duties they owed to the company.
If you have held Driven Brands shares continuously since prior to October 27, 2021, you can seek corporate reforms, the return of funds back to the Company, and a court approved incentive award at no cost you. Visit https://grabarlaw.com/the-latest/driven-brands-shareholder-investigation/ or contact Joshua H. Grabar at jgrabar@grabarlaw.com or call 267-507-6085 to learn more.
WHY: An underlying securities fraud class action complaint alleges that Driven Brands, through certain of its officers and directors, made numerous materially false and misleading statements and omissions pertaining to: (i) Driven Brands’ ability to efficiently and effectively integrate a high volume of acquired businesses, including statements related to the status of integrating its U.S. auto glass businesses; and (ii) the performance and competitive position of Driven Brands’ car wash business segment.
WHAT TO DO NOW: Current Driven Brands shareholders who have held Driven Brands shares since prior to October 27, 2021, can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to them whatsoever. If you would like to learn more about this matter at no cost to you, you are encouraged to visit https://grabarlaw.com/the-latest/driven-brands-shareholder-investigation/, contact Joshua H. Grabar at jgrabar@grabarlaw.com or call 267-507-6085. $DRVN #DrivenBrands
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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com
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