NEW YORK, Dec. 02, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is reminding investors that class action lawsuits can be filed on behalf of shareholders of Vintage Wine Estates, Inc. VWESolarEdge, Inc. SEDGUnisys Corporation UISand Rent the Runway, Inc. RENTAL FEE. Shareholders have until the deadlines below to petition the court to appear as lead plaintiffs. For more information on each case, see the link provided.

Vintage Wine Estates, Inc. VWE

Class period: October 13, 2021 – September 13, 2022

Lead Plaintiff Deadline: January 13, 2023

Vintage Wine is a winery company that sells wines and spirits.

On September 13, 2022, Vintage Wine announced its financial results for fiscal year 2022. In its press release, the company stated that it “recorded non-cash inventory adjustments of $19.1 million identified through efforts[o] Improve and strengthen inventory management, processes and reporting.” The company also stated that “the [fourth] Quarter included overhead of approximately $6.8 million related to the first and second quarters of fiscal 2022 but not material to the respective periods.”

As a result of this news, the company’s share price fell $2.23, or 40.3%, on unusually high trading volume to close at $3.30 per share on September 14, 2022.

Throughout the Class Period, the Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects. Specifically, the defendants failed to disclose to investors: (1) that the company lacked an adequate basis to report inventory metrics due to a material weakness related to its inventory controls and procedures; (2) that the Company understated its overhead expense in certain quarters and thereby overstated its Adjusted EBITDA; (3) that due to the foregoing, Vintage Wine would have a high probability of incurring significant costs to repeat this sooner…