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An investigation for investors in Oatly Group AB (NASDAQ: OTLY) shares over potential securities laws violations by Oatly Group AB
An investigation was announced over potential securities laws violations by Oatly Group AB in connection with certain financial statements.
Investors who purchased shares of Oatly Group AB (NASDAQ: OTLY), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on whether a series of statements by Oatly Group AB regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Sweden based Oatly Group AB, an oatmilk company, provides a range of plant-based dairy products made from oats in Sweden. Oatly Group AB reported that its annual Total Revenue rose from $204.04 million in 2019 to $421.35 million in 2020, and that its Net Loss increased from $34.62 million in 2019 to $60.36 million in 2020.
In May 2021 Oatly Group AB went public and raised over $1.4 billion in its initial public offering by selling shares at $17 per share.
On July 14, 2021, Spruce Point Capital Management, LLC (“Spruce Point”), issued a report entitled “Sour on an Oat-Lier Investment,” in which Spruce Point detailed a series of alarming red flags about Oatly.
Specifically, Spruce Point stated that it “Finds Evidence of Revenue, Gross Margin, Net Income And CapEx Overstatement Following Former Employee Interviews Expressing Concerns Regarding the Accuracy of The Financial Statements And Capital Expansion Decisions.”
Shares of Oatly Group AB (NASDAQ: OTLY) declined from $29 per share in June to $18.18 per share on July 15, 2021.
Those who purchased shares of Oatly Group AB (NASDAQ: OTLY) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
This release was published on openPR.
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