According to the Vintage Wine Estates lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:
(1) that, due to a material weakness related to its inventory controls and procedures, the Company lacked a reasonable basis to report inventory metrics;
(2) that the Company understated its overhead burden in certain quarters, thereby overstating its adjusted EBITDA;
(3) that, as a result of the foregoing, Vintage Wine was reasonably likely to incur significant charges to restate prior reporting; and
(4) that, as a result of the foregoing, Defendant’s positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you suffered a loss in VWE, you have until January 13, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.