NEW YORK, Aug. 09, 2024 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the District of Minnesota on behalf of those who acquired Lifecore Biomedical, Inc. (“Lifecore” or the “Company”) (NASDAQ: LFCR) securities during the period of October 7, 2020 to March 19, 2024, inclusive (“the Class Period”). Investors have until September 27, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

[Click here to learn more about the class action]

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 securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com