Award Winning Firm Labaton Sucharow Investigating Vintage Wine Estates, Inc. f/k/a Bespoke Capital Acquisition Corp. (NASDAQ:VWE, VWEWW, BSPE)

Rhea-AI Summary

Vintage Wine Estates Investigation - Labaton Sucharow has launched an investigation into Vintage Wine Estates, Inc. (NASDAQ: VWE) for potential violations of federal securities laws. The inquiry centers on misleading statements related to a significant non-cash inventory adjustment of $19.1 million, which contributed to a larger fourth-quarter loss in 2022. Following the announcement of these adjustments, Vintage Wine's stock fell over 40% in a single day, raising concerns among investors about transparency and financial integrity.

Positive

• None.

Negative

• Stock price dropped over 40% following the disclosure of $19.1 million non-cash inventory adjustments.
• The adjustments contributed to a larger loss in the fourth quarter of 2022.

NEW YORK, NY / ACCESSWIRE / October 27, 2022 / Labaton Sucharow, a nationally ranked and award-winning shareholder rights firm, announces that it is investigating Vintage Wine Estates, Inc. f/k/a Bespoke Capital Acquisition Corp ("Vintage Wine" or "the Company") (NASDAQ:VWE, VWEWW, BSPE) for violations of the federal securities laws.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Vintage Wine issued a press release on September 13, 2022, revealing that it had taken $19.1 million in non-cash inventory adjustments that it had "identified through efforts to improve and strengthen inventory management, processes and reporting." The Company added that the adjustments included "physical inventory count adjustments of $12.4 million, $3.7 million related to the establishment of inventory reserves and $3.0 million related to the impact of additional remediation efforts." The Company admitted that these adjustments had fueled a larger loss in the fourth quarter of 2022. Based on this news, shares of Vintage Wine plunged by more than 40% in intraday trading on September 14, 2022.

If you currently own stock or options in Vintage Wine Estates, Inc. and suffered a loss, click here to participate.

If you want to receive additional information and protect your investments free of charge, please contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at david@labaton.com.

About the Firm

Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, corporate governance and shareholder rights, consumer, and cybersecurity and data privacy litigation, as well as whistleblower representation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at labaton.com.

Contacts:

David J. Schwartz
(800) 321-0476
david@labaton.com

SOURCE: Labaton Sucharow LLP

View source version on accesswire.com:
https://www.accesswire.com/722639/Award-Winning-Firm-Labaton-Sucharow-Investigating-Vintage-Wine-Estates-Inc-fka-Bespoke-Capital-Acquisition-Corp-NASDAQVWE-VWEWW-BSPE

FAQ

What is the investigation about Vintage Wine Estates (VWE)?

Labaton Sucharow is investigating Vintage Wine Estates for potential violations of federal securities laws due to misleading statements regarding inventory adjustments.

How did the inventory adjustments affect Vintage Wine Estates' stock price?

The announcement of $19.1 million in non-cash inventory adjustments caused Vintage Wine's stock to plunge by more than 40% on the following trading day.

What were the details of the inventory adjustments made by Vintage Wine Estates?

Vintage Wine reported $19.1 million in inventory adjustments, including $12.4 million from physical inventory counts, $3.7 million for reserves, and $3.0 million from remediation efforts.