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. (NASDAQ:VWE) shares.

Investors who purchased Vintage Wine Estates, Inc. (NASDAQ: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 [email protected] 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. (NASDAQ:VWE) shares should contact the Shareholders Foundation, Inc.

CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
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.