investors can Contact the law firm for free to learn more about recovering their losses
LOS ANGELES, Sept. 15, 2022 (GLOBE NEWSWIRE) — The law firm of Portnoy is informing investors of Vintage Wine Estates, Inc. (“Vintage Wine” or “the Company”) (NASDAQ: VWE) that the Company has opened an investigation into possible securities fraud and may file a class action lawsuit on behalf of the investors. Vintage Wine investors who have lost money investing are encouraged to do so Contact Lesley Portnoy, Esq.
Investors are encouraged to contact an attorney Lesley F Portnoyby phone 844-767-8529 or E-mail: [email protected] to discuss your legal rights, or click here to join the case about www.portnoylaw.com. Portnoy Law Firm can provide a free case assessment and discuss investors’ options for making claims to recover their losses.
The investigation focuses on whether the company made false and/or misleading statements and/or failed to disclose information relevant to investors. Vintage Wine issued a press release on September 13, 2022, revealing that it had made $19.1 million in non-cash inventory adjustments that it “identified through efforts to improve and strengthen inventory management, processes and reporting.” . The company added that the adjustments included “physical inventory count adjustments of $12.4 million, $3.7 million related to the establishment of inventory reserves and $3.0 million related to the Impact of Additional Remediation Efforts”. The company acknowledged that these adjustments resulted in a larger loss in the fourth quarter of 2022. Based on this news, shares of Vintage Wine plunged more than 40% in intraday trading on September 14, 2022.
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Portnoy Law Firm represents investors in asserting claims against companies caused by wrongdoing. The founding partner of the company has recovered over $5.5…
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