Liquor company MGP Ingredients Inc. convinced a federal judge to toss a suit alleging it misled investors about its response to declining customer demand for alcohol.
The shareholder plaintiffs failed to show the liquor company intended to deceive them about its business, Chief Judge John W. Broomes of the US District Court for the District of Kansas said in a ruling Wednesday.
The proposed class action alleged that MGP, along with current and former executives, touted strong demand and normal inventory levels when there had actually been a slowdown and oversupply since 2023.
Demand for liquor started to decline following ...
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