{"id":6507,"date":"2024-09-19T00:46:00","date_gmt":"2024-09-18T17:46:00","guid":{"rendered":"https:\/\/www.globenewswire.com\/news-release\/2024\/09\/18\/2948545\/34548\/en\/Glancy-Prongay-Murray-LLP-Reminds-Investors-of-Looming-Deadline-in-the-Class-Action-Lawsuit-Against-Lifecore-Biomedical-Inc-LFCR.html2948545"},"modified":"2024-09-19T00:57:11","modified_gmt":"2024-09-18T17:57:11","slug":"glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-lifecore-biomedical-inc-lfcr","status":"publish","type":"post","link":"https:\/\/cryptoinsider.asia\/vi\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-lifecore-biomedical-inc-lfcr\/","title":{"rendered":"Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Lifecore Biomedical, Inc. (LFCR)"},"content":{"rendered":"\n

LOS ANGELES, Sept. 18, 2024 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP<\/a> (\u201cGPM\u201d) reminds investors of the upcoming September 27, 2024 <\/strong>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Lifecore Biomedical, Inc. (\u201cLifecore\u201d or the \u201cCompany\u201d) (NASDAQ: LFCR<\/a>) securities between October 7, 2020 and March 19, 2024<\/strong>, inclusive (the \u201cClass Period\u201d).<\/p>\n

If you suffered a loss on your Lifecore investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com\/cases\/Lifecore-Biomedical-Inc\/<\/a>. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com<\/a> to learn more about your rights.<\/p>\n

On March 20, 2024, Lifecore released its Annual Report for the fiscal year 2023 revealing that, despite previous restatements and remediation plans, the Company\u2019s Audit Committee had determined that Lifecore\u2019s previously issued financial statements for fiscal years 2022, 2021, and part of 2020 should no longer be relied upon and would need to be restated to \u201ccorrect errors involving the calculation of capitalized interest, valuation of inventories, and certain other adjustments related to previously divested businesses reflected in the Prior Financial Statements.\u201d<\/p>\n

On this news, Lifecore\u2019s stock price fell $2.18, or 30.3%, to close at $5.01 per share on March 20, 2024, thereby injuring investors.<\/p>\n

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Lifecore maintained deficient internal controls over financial reporting; (2) as a result, the Company issued several financial statements that were inaccurate and would need to be restated; (3) Lifecore\u2019s purported remediation efforts with respect to the foregoing deficiencies were ineffective; (4) all of the foregoing impaired Lifecore\u2019s ability to timely file periodic reports with the SEC in compliance with NASDAQ listing requirements; (5) accordingly, the Company\u2019s financial position and\/or prospects were materially overstated; and (6) as a result, Defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis at all relevant times.<\/p>\n

Follow us for updates on LinkedIn<\/a>, Twitter<\/a>, or Facebook<\/a>.<\/p>\n

If you purchased or otherwise acquired Lifecore securities during the Class Period, you may move the Court no later than September 27, 2024 <\/strong>to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com<\/a>, or visit our website at www.glancylaw.com<\/a>. If you inquire by email please include your mailing address, telephone number and number of shares purchased.<\/p>\n

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p>\n

Contacts <\/strong>
Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com<\/a>
www.glancylaw.com<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

LOS ANGELES, Sept. 18, 2024 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0September 27, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Lifecore Biomedical, Inc. (\u201cLifecore\u201d or the \u201cCompany\u201d) (NASDAQ: LFCR) securities between October 7, 2020 and March 19, 2024, inclusive (the \u201cClass Period\u201d). 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