LOS ANGELES, April 14, 2023 (GLOBE NEWSWIRE) — The law firm of Portnoy advises Alico, Inc. (“Alico” or the “Company”) ALCO Investors that the law firm has opened an investigation on behalf of investors who have lost money on their shares. Alico, Inc. investors are encouraged to do so Contact the company to discuss their legal rights.

Investors are encouraged to contact an attorney Lesley F Portnoyby phone 844-767-8529 or E-mail: lesley@portnoylaw.comto discuss your legal rights, or Click here to join the case about www.portnoylaw.com. Portnoy Law Firm can provide a free case assessment and discuss investors’ options for making claims to recover their losses.

On December 13, 2022, Alico issued its 10-K form for the year ended September 30, 2022. The company announced “Restate.”[d] The Company’s previously issued audited consolidated balance sheet, audited consolidated changes in equity and related information as at September 30, 2021 included in the Company’s Annual Report on Form 10-K for the year ended September 30, 2021 (the ‘2021 10-K’ ) previously filed with the SEC and the Company’s previously issued unaudited consolidated financial statements, unaudited consolidated statements of changes in equity and related disclosures for the ends of each quarter ended June 30, 2022, March 31, 2022, December 31 , 2021, June 30, 2021, March 31, 2021 and December 31, 2020 included in the Company’s respective Quarterly Report on Form 10-Q for each of the quarters then ended and previously filed with the SEC (along with the 2021 10-K, the ‘Annual Financial Statements’).” Alongside this, the company also stated: “[o]On December 12, 2022, the audit committee (the “Audit Committee”) of the Company’s board of directors concluded that the Company’s previously published financial statements were not corrected due to an error made in the financial statements of the 10-K.” Specifically, Alico stated that “[t]The mistake that caused the audit committee to…