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Vintage Wine Estates, Inc. Class Action Submission Form

The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Vintage Wine Estates, Inc. (NASDAQ: VWE) who purchased shares between October 13, 2021 and September 13, 2022. The action, which was filed in the United States District Court for the District of Nevada, alleges that the Company violated federal securities laws.

In particular, the Vintage Wine lawsuit alleges that (1) due to a material weakness related to its inventory controls and procedures, the Company lacked a reasonable basis to report inventory metrics; (2) the Company understated its overhead burden in certain quarters, thereby overstating its adjusted EBITDA; (3) as a result of the foregoing, Vintage Wine was reasonably likely to incur significant charges to restate prior reporting; and (4) as a result of the foregoing, defendants' positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Shareholders have until January 13, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.

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There is no cost or obligation. This submission does not create an attorney-client relationship. If we believe that you might be an appropriate lead plaintiff, we will contact you to discuss whether to establish an attorney-client relationship.

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