SAN DIEGO, March 20, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating whether Lifecore Biomedical, Inc. (NASDAQ: LFCR) (“Lifecore” or the “Company”), or any of its executive officers or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors’ losses and whether they may be recovered under federal securities laws.
What if I purchased Lifecore securities? If you bought securities and suffered significant losses on your investment, join our investigation now:
Click Here to Join the Investigation
Or for more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471.
There is no cost or obligation to you.
What is Johnson Fistel investigating? On March 20, 2024, Lifecore issued its Annual Report on Form 10-K/A for the year ended May 29, 2022, the Company’s unaudited consolidated financial statements as of and for the periods ending August 30, 2020, November 29, 2020, February 28, 2021, August 29, 2021, November 28, 2021, February 27, 2022, August 28, 2022, November 27, 2022 and February 26, 2023 included in the Company’s Quarterly Reports on Form 10-Q filed with the SEC. Per the Company, the “restatements correct 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. In addition, the Company has adjusted certain other items that were previously identified and concluded as immaterial, individually and in the aggregate, to the Prior Financial Statements.”
Following this news, Lifecore stock was 31% lower in early morning trading on March 20, 2024.
What if I have relevant nonpublic information? Individuals with nonpublic information about the Company should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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Contact:
Johnson Fistel, LLP
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James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com
