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Investors who purchased shares of MGP Ingredients, Inc. (NASDAQ: MGPI) and currently hold any of those NASDAQ: MGPI shares have certain options and should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
An investigation on behalf of current long-term investors in shares of MGP Ingredients, Inc. (NASDAQ: MGPI) was announced over potential breaches of fiduciary duties by certain officers and directors at MGP Ingredients, Inc. .
The investigation by a law firm concerns whether certain MGP Ingredients, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
Atchison, KS based MGP Ingredients, Inc., together with its subsidiaries, produces and supplies distilled spirits, and specialty wheat proteins and starch food ingredients. MGP Ingredients, Inc. reported that its annual Total Revenue rose from $347.44 million in 2017 to $376.08 million in 2018 and that its Net Income declined from $41.82 million in 2017 to $37.28 million in 2018.
On January 17, 2020, MGP Ingredients, Inc announced that it expects to miss previously forecasted sales and earnings guidance. Just on last quarter's conference call, the Company's CEO stated when referring to full-year results, 'so we feel very good about that outlook. And that's why we're so confident in our ability to reconfirm our guidance.'
Shares of MGP Ingredients, Inc. (NASDAQ: MGPI) declined from $53.33 per share on January 16, 2020 to as low as $36.14 per share on January 17, 2020.
