NEW YORK, Jan. 21, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in Alico, Inc. (“Alico” or the “Company”) ALCO. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

The investigation concerns whether Alico and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

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On December 13, 2022, Alico filed with the Securities and Exchange Commission (“SEC”) its annual report on Form 10-K for the year ended September 30, 2022 (the “2022 10-K”). In the 2022 10-K, Alico “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 ‘Degree’).” The Company also announced that “[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 error that led to the Audit Committee’s conclusion concerns the calculation of deferred tax liabilities for the 2015 financial years…