NEW YORK, April 20, 2024 (GLOBE NEWSWIRE) —
WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Lifecore Biomedical Inc. f/k/a Landec Corporation (NASDAQ: LFCR, LNDC) resulting from allegations that Lifecore Biomedical may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Lifecore Biomedical securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=24052 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.
WHAT IS THIS ABOUT: On March 20, 2024, before market hours, Lifecore Biomedical filed with the SEC its annual report on Form 10-K which included, among other things and in pertinent part, “the restatement of previously issued restated consolidated financial statements as of and for the fiscal years ended May 29, 2022 (‘FY22’) and May 30, 2021 (‘FY21’)[.]”
Also on March 20, 2024, before market hours, Lifecore Biomedical issued a press release which announced that its “Board of Directors unanimously concluded that the best way to maximize value for stockholders at this time is to continue executing on the Company’s standalone strategic plan.” The press release also announced that “in connection with the conclusion of its strategic evaluation process, the Company announced that it has appointed Paul Josephs as the Company’s new President and Chief Executive Officer,” and that he is expected to join the Company’s Board of Directors. Further, the press release announced that “Craig Barbarosh, the Company’s Board Chair, has informed the Board of Directors that he intends to not stand for reelection”.
On this news, Lifecore Biomedical’s stock fell $2.18 per share, or 30%, to close at $5.01 per share on March 20, 2024 on unusually heavy trading volume.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
case@rosenlegal.com
www.rosenlegal.com
