OATLY ALERT: Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against Oatly Group AB and Encourages Investors to Contact the Firm

NEW YORK–(BUSINESS WIRE) – Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed against Oatly Group AB (“Oatly” or the “Company”) (NASDAQ: OTLY) in the US District Court for the Southern District of New York on behalf of all individuals and legal entities who purchased or otherwise acquired Oatly securities between May 20, 2021 and July 15, 2021, both days inclusive (the “Cumulative Period”). Investors have until September 24, 2021 to apply to the court for appointment as the lead plaintiff in the proceedings.

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Oatly is the world’s largest and most original oat milk company. It is organized under Swedish law and held its IPO in the USA in May 2021.

On July 14, 2021, before the market opened, short seller Spruce Point issued a report entitled “Sour on an Oat-lier Investment”. The 124-page report alleged a wide range of misconduct and misrepresentation by Oatly, including that it falsely overstated its sales, gross margin, accounting and investment metrics; the protected nature of its production process and formula; and its history of growth in China, among others. A number of news outlets covered the Spruce Point Report in the days that followed.

According to this news, the price of Oatly ADSs fell 7.8% in two days, from a closing price of $ 21.13 on July 13, 2021 to a closing price of $ 19.48 on July 15, 2021.

The lawsuit alleges that Oatly and the other defendants made materially false and / or misleading information to investors during the class action period. Specifically, the lawsuit alleged that Oatly: (a) inflated its gross margins, revenue and financial metrics too much; (b) has overestimated the proprietary nature of its formulas and manufacturing process; (c) exaggerated its success in China; and (d) as a result of the foregoing, Oatly’s statements about its business, dealings and prospects during the class action period were misleading.

If you have bought or otherwise acquired Oatly stock and have suffered a loss, are a long-term shareholder, have information, want to learn more about these claims, or have questions about this release or your rights or interests in relation to these matters, please contact Brandon Walker, Melissa Fortunato or Marion Passmore by email at [email protected], by phone at (212) 355-4648, or by completing this contact form. There are no costs or obligations for you.

About Bragar Eagle & Squire, PC:

Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents private and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. More information about the company can be found at www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.

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