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On October 21, 2016, a chemical spill involving sulfuric acid and sodium hypochlorite occurred at an MGP Ingredients facility in Atchison, Kansas, generating a noxious chemical cloud over the area and prompting school evacuations. As a result of the spill, more than 100 people were treated for respiratory problems.
On this news, MGP Ingredients stock fell $1.21, or 3.12%, to close at $37.60 on October 24, 2016, the next trading day.
On October 27, 2016, MGP Ingredients issued an update, stating that an investigation by the U.S. Chemical Safety and Hazard Investigation Board was underway, and that the U.S. Food and Drug Administration and the Occupational Safety and Health Administration had also investigated the spill.
On this news, MGP Ingredients stock fell $0.67, or 1.86%, to close at $35.36 on October 27, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-mgp-ingredients-inc--mgpi-300353146.html
SOURCE Pomerantz LLP