Liquor Company Misled on Post-Pandemic Demand Dip, Investor Says

MGP Ingredients, Inc. misled investors about its handling of declining alcohol demand after the pandemic, spurring three significant stock drops and hundreds of millions of dollars in losses, a proposed class action lawsuit says.

MGP and certain current and former executives touted strong demand and normal inventory levels when really there had been a slowdown and oversupply since 2023, said plaintiff Operating Engineers Construction Industry Miscellaneous Pension Fund, which administers benefits on behalf of of construction equipment engineers.

“Worse, Defendants had assured investors that they were positioned differently than their competitors, and that this was a non-issue, because the Company ...