NEW YORK, NY / ACCESSWIRE / July 23, 2021 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Oatly Group AB ('Oatly' or 'the Company') (NASDAQ:OTLY). Investors who purchasedOatlyshares are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/otly.
The investigation concerns whether Oatlyand certain of its officers and/or directors have violated federal securities laws.
On July 14, 2021, Spruce Point Capital Management ("Spruce Point") published a report accusing the Company of a variety of potential accounting improprieties and misrepresenting its sustainability practices. Among other things, the Spruce Point report highlights "signs of revenue overstatement," asserts that a key Oatly U.S manager had verified such revenue overstatement, and points to an alleged divergence between accounts receivable growth and sales growth that suggests "a pull forward of revenue recognition." Spruce Point called for Oatly's board of directors to hire an independent forensic accountant to investigate such matters. On this news, Oatly's stock price fell $1.85 per share, or 8.76%, over the following three trading sessions to close at $19.28 per share on July 16, 2021.
If you are aware of any facts relating to this investigation, or purchased Oatly shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/otly. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz and Grossman, LLC