October 31, 2016 (Shareholders Foundation) - An investigation on behalf of investors of MGP Ingredients Inc (NASDAQ:MGPI) shares over potential securities laws violations by MGP Ingredients and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of MGP Ingredients Inc (NASDAQ:MGPI) concerning whether a series of statements by MGP Ingredients regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

MGP Ingredients Inc reported that its annual Total Revenue rose from $313.40 million in 2014 to $327.60 million in 2015 and that its Net Income increased from $23.68 million in 2014 to $26.19 million.

On October 21, 2016, there was a chemical spill at an MGP Ingredients facility in Atchison, Kansas, involving sulfuric acid and sodium hypochlorite. The spill generated a toxic chemical cloud that covered the area, prompting school evacuations.

Shares of MGP Ingredients Inc (NASDAQ:MGPI) declined on October 31, 2016 to as low as $34.79 per share.