INVESTOR ALERT: Edelson Lechtzin LLP is Investigating Securities Fraud Claims on Behalf of Tattooed Chef, Inc. (NASDAQ: TTCF) Shareholders
NEWTOWN, PA, January 4, 2023 — The law firm of Edelson Lechtzin LLP is investigating securities fraud claims on behalf of purchasers and holders of Tattooed Chef, Inc. (“Tattooed Chef” or the “Company”) (NASDAQ: TTCF) common stock.
Investors who purchased Tattooed Chef, Inc. common stock between March 20, 2021, and October 12, 2022, inclusive (the “Class Period”) may move the U.S. District Court for the Central District of California Western Division to appoint them as lead plaintiff, no later than February 21, 2023. Current holders of Tattooed Chef stock may pursue corporate governance reforms. Investors who wish to discuss Tattooed Chef stock should contact Edelson Lechtzin LLP, toll free at 844-696-7492
, or by e-mail at [email protected]. A copy of the class action complaint can be viewed HERE.
Background on Tattooed Chef, Inc.
Tattooed Chef, a plant-based food company headquartered in Paramount, California, uses recipes revolving around ingredients grown in the earth. Its products are available in the frozen food sections of national retail food stores and on its e-commerce site.
The Securities Fraud Claims
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements and failed to disclose the following adverse facts pertaining to the Company’s business, operations, and prospects. Specifically: (i) Defendants downplayed the Company’s serious issues with internal controls; (ii) the Company’s financial statements from March 31, 2021 to present included “errors” such as overstating revenue and understating losses; (iii) as a result, Tattooed Chef would need to restate its previously filed financial statements for certain periods.
On October 12, 2022, the Company announced that it would restate its financial statements from March 31, 2021, to present. Defendants revealed that they had overstated revenues and understated net losses in their 1Q, 2Q, 3Q, and annual reports. In response to these revelations, the price of Tattooed Chef stock plummeted $0.44 per share (or 9.8%), from its close on October 12, 2022 to open on October 13, 2022 at $4.05 per share, damaging investors.
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Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and dangerous and defective drugs and medical devices.