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RM LAW Announces Class Action Lawsuit Against Tattooed Chef, Inc.

BERWYN, Pa., January 20, 2023 /PRNewswire/ — LAW RM, PC announces that a class action lawsuit has been filed on behalf of all persons or entities who have purchased securities of Tattooed Chef, Inc. (“Tattooed Chef” or the “Company”) (NASDAQ: TTCF) during the period from March 20, 2021 through October 12, 2022inclusive (the “Class Period”).

The shareholders of Tattooed Chef may, at the latest February 21, 2023, ask the Court to be named as the lead plaintiff of the Class. If you have purchased stock in Tattooed Chef and would like to know more about these claims or if you would like to discuss these matters and have questions about this announcement or your rights, contact Richard A. Manisks, Esquire toll free at (844) 291-9299 or to register online, click here.

According to the complaint, the defendants failed to disclose that Tattooed Chef continually downplayed its serious internal control issues and financial statements of March 31, 2021 until now included “certain errors” such as overstating income and understating losses. Accordingly, Tattooed Chef should restate its previously filed financial statements for certain periods.

At October 12, 2022after market hours, the Company announced that it would restate its financial statements from March 31, 2021 so far and revealed for the first time that it had erroneous earnings on every quarterly report. The Company also made numerous other changes to the financial statements that revealed the extent of internal control weaknesses. Specifically, Tattooed Chef “(a) incorrectly recorded expenses related to a multi-vendor broadcast program with a large client as an operating expense rather than a revenue reduction, and (b) incorrectly recorded advertising placement expenditures by a marketing services company on a straight-line basis over the term of the contract rather than when the services were actually rendered.” With this news, Tattooed Chef’s stock price plummeted. $0.44 per share, or 9.8%, to close at $4.05 per share on October 13, 2022.

If you are a member of the group, you can, at the latest February 21, 2023, ask the Court to name you as the lead plaintiff in the class. A lead plaintiff is a representative party who acts on behalf of the other class members to direct the litigation. In order to be named lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. In certain circumstances, one or more class members may act together as a “lead plaintiff”. Your ability to participate in any collection, however, is not affected by the decision whether or not to serve as the lead plaintiff. You may retain RM LAW, PC or another attorney of your choice to act as counsel in this action.

For more information on this, please contact RM LAW, PC (Richard A. Manisks, Esquire) toll-free at (844) 291-9299 or by email at [email protected] or click here. For more information about class actions generally or to learn more about RM LAW, PC, please visit our website by clicking here.

RM LAW, PC is a national shareholder litigation firm. RM LAW, PC is dedicated to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.

CONTACT:
LAW RM, PC
Richard A. Manisks, Esquire
1055 Westlakes Drive, Ste. 300
Berwyn, Pennsylvania 19312
484-324-6800
844-291-9299
[email protected]

SOURCE RIGHT RM, PC