Vintage Wine Estates, Inc.
(NASDAQ GM: VWE)
Rigrodsky Law, P.A. is investigating potential claims against the officers and directors of Vintage Wine Estates, Inc. ("Vintage Wine" or the "Company") on behalf of stockholders. A class action complaint has been filed against Vintage Wine. The complaint alleges that defendants made materially false and/or misleading statements, and failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, defendants failed to disclose to investors that: (i) due to a material weakness related to its inventory controls and procedures, the Company lacked a reasonable basis to report inventory metrics; (ii) the Company understated its overhead burden in certain quarters, thereby overstating its adjusted EBITDA; (iii) as a result of the foregoing, the Company was reasonably likely to incur significant charges to restate prior reporting; and (iv) 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.