Oatly Group AB
Exchange: NASDAQ
Ticker: OTLY
Date of Filing: 07/26/2021
Court: New York Southern District Court
Filing Deadline

09/24/2021

Oatly Group AB

The action alleges that Oatly and the other defendants made materially false and/or misleading statement to investors during the Class Period. Specifically, the action alleged that Oatly: (a) overinflated its gross margins, revenue, and capital expenditure financial metrics; (b) overstated 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 operations, business, and prospects were misleading during the Class Period. 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 array of misconduct and misstatements by Oatly, including that it wrongfully overstated its revenue, gross margin, accounting, and capital expenditure metrics; the proprietary nature of its production process and formula; and its growth story in China, among other things. A number of news outlets reported on the Spruce Point Report over the following days. On this news, the price of Oatly ADSs fell 7.8% over two days, from a close price of $21.13 on July 13, 2021, to a close price of $19.48 on July 15, 2021, on unusually high trading volume.


For More information  as well as to join this case please contact Atara Twersky, Esq. at [email protected] or [email protected].  Atara is Principal at Twersky Law Group and Of counsel at AF&T law firm where she is director of Investor Services.  Atara focuses her practice on assisting her clients with increasing their investment portfolio recoveries and ensuring that their portfolios remain healthy and robust.  For more information on shareholder recoveries click here and to listen to Atara’s podcast with notable guests in the Pension fund Industry listen to Pension and Investments Podcast, on all matters related to your investment portfolio and more. For more information on  Atara and her legal work connected to shareholder protection click here

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COMPLAINT

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