Lifecore Biomedical (LFCR) Week Financial Controls Case

D. Minnesota

Court

0:24-cv-03028

Case number

10/07/2020

Class period Start

03/19/2024

Class period End

09/27/2024

Lead Plaintiff motion deadline

$LFCR stockholder filed a claim against Lifecore Biomedical for weak controls that led to inaccurate statements and overstated prospects.
After the news on March 20, 2024, $LFCR fell by 30%.
Lifecore investors can join this case to be notified about potential recovery.
Case Details:

On March 20, 2024, Lifecore announced that its financial statements for 2022, 2021, and part of 2020 are incorrect and need to be restated. 

The errors include miscalculations in capitalized interest and inventory valuation. 

On this news, $LFCR fell by 30.3% on the same day.

Based on these events, a $LFCR stockholder filed a claim against Lifecore and its leaders, accusing them of the following:
Lifecore’s weak internal controls caused inaccurate financial statements that need restatement.
Remediation efforts failed, affecting timely SEC filings and NASDAQ compliance. 
Consequently, this led to an overstatement of the company’s financial position.
Considering all the representations, investors suspect that Lifecore’s weak controls led to inaccurate statements that need restatement and overstated financials.

Case Status

Lead Plaintiff Submission

Alleged Offence

Mismanagement,

Misleading Statements,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

03/20/2024

Filing date

07/29/2024

Lead Plaintiff Deadline

09/27/2024

Judge

Hon. Jerry W. Blackwell

Lifecore Biomedical (LFCR) Week Financial Controls Case

Collecting participants…