NEW YORK, July 31, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Lifecore Biomedical, Inc. (“Lifecore” or the “Company”) (NASDAQ: LFCR) in the United States District Court for the District of Minnesota on behalf of all persons and entities who purchased or otherwise acquired Lifecore securities between October 7, 2020 and March 19, 2024, both dates inclusive (the “Class Period”). Investors have until September 27, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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Between September 2022 and February 2024, Lifecore’s share price declined in response to a series of disclosures concerning material weaknesses in internal control over financial reporting, and delays in making required filings with the U.S. Securities and Exchange Commission (SEC).
The lawsuit alleges that (i) Lifecore maintained deficient internal controls over financial reporting; (ii) as a result, the Company issued several financial statements that were inaccurate and would need to be restated; (iii) Lifecore’s purported remediation efforts with respect to the foregoing deficiencies were ineffective; (iv) all of the foregoing impaired Lifecore’s ability to timely file periodic reports with the SEC in compliance with NASDAQ listing requirements; and (v) accordingly, the Company’s financial position and/or prospects were materially overstated.
If you purchased or otherwise acquired Lifecore shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
