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Submit Your Information For Vintage Wine Estates, Inc.

Lead Plaintiff Deadline is January 13, 2023.

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About the Case

Vintage Wine Estates sells wine and spirits and has over 60 wine and spirits brands totaling around 3 million cases annually, making it the 14th largest wine corporation in the United States.

On September 13, 2022, Vintage Wine Estates announced disappointing financial results for fiscal year 2022 and disclosed that figures contained in previous public statements and SEC filings were inaccurate by a wide margin. The company disclosed that it “recorded $19.1 million in non-cash inventory adjustments identified through efforts t[o] improve and strengthen inventory management, processes and reporting.” Vintage Wine Estates further disclosed that “the [fourth] quarter included approximately $6.8 million in overhead burden that was related to the first and second quarter of fiscal 2022, but not material to the respective periods.”

Following this news, Vintage Wine Estates’ share price fell 40.3%, to close at $3.30 per share on September 14, 2022.