According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- Lifecore maintained deficient internal controls over financial reporting;
- as a result, Lifecore issued several financial statements that were inaccurate and would need to be restated;
- Lifecore’s purported remediation efforts with respect to the foregoing deficiencies were ineffective;
- all of the foregoing impaired Lifecore’s ability to timely file periodic reports with the Securities and Exchange Commission in compliance with NASDAQ listing requirements;
- accordingly, Lifecore’s financial position and/or prospects were materially overstated; and
- as a result, Lifecore’s public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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