NEW YORK, Oct. 06, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against GrafTech International Ltd. EAFVintage Wine Estates, Inc. VWEFlowserve Corporation FLSand BRP Group, Inc. BRP. Our investigations address whether these companies have violated federal securities laws and/or engaged in other illegal business practices. For more information on each case, see the link provided.
GrafTech International Ltd. EAF
On September 16, 2022, GrafTech announced that operations at its graphite electrode manufacturing facility in Monterey, Mexico, had ceased following an inspection by the Attorney General of the Nuevo Leon State Secretary of the Environment. The company also acknowledged that the Mexican government had determined that its license to operate in the country was no longer in effect and could not provide an estimate of when the manufacturing facility would resume operations.
As a result of this news, GrafTech’s stock price fell $0.47 per share, or 8.8%, to close at $4.85 per share on September 19, 2022, the next trading day.
You can find more information about the GrafTech investigation at: https://bespc.com/cases/EAF
Vintage Wine Estates, Inc. VWE
Vintage Wine issued a press release on September 13, 2022, revealing that it had made $19.1 million in non-cash inventory adjustments that it “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 resulted in a larger loss in the fourth quarter of 2022.
As a result of this news, Vintage Wine’s stock price fell $2.26 per share, or 40.6%, to close September at $3.30 per share…
