Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

Laser Focus World is part of Endeavor Business Media, a division of EndeavorB2B.

Laser Focus World Membership

Never miss any articles, videos, podcasts, or webinars by signing up for membership access to Laser Focus World online. You can manage your preferences all in one place—and provide our editorial team with your valued feedback.

Magazine Subscription

Can you subscribe to receive our print issue for free? Yes, you sure can!

Newsletter Subscription

Laser Focus World newsletter subscription is free to qualified professionals:

The Daily Beam

Showcases the newest content from Laser Focus World, including photonics- and optics-based applications, components, research, and trends. (Daily)

Product Watch

The latest in products within the photonics industry. (9x per year)

Bio & Life Sciences Product Watch

The latest in products within the biophotonics industry. (4x per year)

Laser Processing Product Watch

The latest in products within the laser processing industry. (3x per year)

Get Published!

If you’d like to write an article for us, reach out with a short pitch to Sally Cole Johnson: [email protected]. We love to hear from you.

Photonics Hot List

Laser Focus World produces a video newscast that gives a peek into what’s happening in the world of photonics.

Following the Photons: A Photonics Podcast

Following the Photons: A Photonics Podcast dives deep into the fascinating world of photonics. Our weekly episodes feature interviews and discussions with industry and research experts, providing valuable perspectives on the issues, technologies, and trends shaping the photonics community.

Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Kirby McInerney LLP Urges Investors in MGP Ingredients, Inc. (MGPI) to Inquire About Their Rights in Class Action Lawsuit

The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed the U.S. District Court for the Southern District of New York on behalf of those who acquired MGP Ingredients, Inc. (“MGP Ingredients” or the “Company”) (NASDAQ: MGPI) securities during the period from May 4, 2023, through October 30, 2024 (“the Class Period”). Investors have until February 14, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit.

[LEARN MORE ABOUT THE CLASS ACTION]

On February 22, 2024, the Company reported its financial results for the fourth quarter of fiscal year 2023 and provided guidance for fiscal year 2024. While the results for 2023 exceeded expectations, the 2024 revenue forecast was 4.9% lower than expected. During the earnings call, the Company acknowledged industry reports of ongoing “inventory destocking at a wholesale level” in 2024 and emphasized its efforts to manage wholesaler inventory. CEO David Bratcher also pointed out that over 90% of the Company’s new whiskey sales for 2024 were already locked in, while only about 50% of their older, aged whiskey sales were guaranteed. This shows the Company shifting its focus more toward selling newer whiskey. Despite reassurances that demand remained strong, and the business was positioned for growth, the market reacted negatively. On this news, the price per share of MGP Ingredients declined by $13.65, or approximately 15%, from $91.83 per share on February 21, 2024, to close at $78.14 per share on February 22, 2024.

Then, on October 17, 2024, MGP Ingredients reported preliminary third-quarter results, revealing a 14% decline in sales year-over-year and lowering its fiscal 2024 guidance. The Company cited elevated industry-wide whiskey inventories and slowing demand for brown goods, particularly among craft customers. Analysts criticized the announcement as “breathtaking” and a “material surprise,” with concerns over credibility and visibility into future performance. On this news, MGP Ingredients’ price per share fell by $24.07 per share, or nearly 30%, from $81.57 on October 17, 2024, to close at $57.50 on October 21, 2024.

Furthermore, on October 31, 2024, MGP Ingredients disclosed additional challenges, acknowledging that soft American whiskey trends and excess inventories would require scaling back production. During the earnings call, executives admitted to reduced demand, lower prices, and diminished visibility. On this news, the share price declined by $8.27 per share, or nearly 15%, from $56.31 on October 30, 2024, to close at $48.04 on October 31, 2024.

The complaint alleges that, throughout the Class Period, MGP Ingredients made materially false and/or misleading statements and/or failed to disclose a slowdown in consumption and oversupply in their brown goods (i.e. American whiskies and tequila products).

If you purchased or otherwise acquired MGP Ingredients securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the form below, to discuss your rights or interests with respect to these matters without any cost to you.

[CONTACT FORM]

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.