OATLY INVESTOR ALERT: Kaplan Fox Investigates Potential Securities Fraud at Oatly Group AB – Press Release
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NEW YORK, July 15, 2021 (GLOBE NEWSWIRE) — Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Oatly Group AB (“Oatly” or the “Company”) (NASDAQ:OTLY).
On July 14, 2021, Spruce Point Capital Management published a report about Oatly alleging the Company is engaged in a variety of accounting improprieties, including overstatements of revenue, inventory and gross margins, and of misrepresenting its sustainability practices. For example, the Spruce Point Capital Management report warns as follows:
“We observe periods of large divergence in revenue and accounts receivable growth rates at Oatly. This is a classic sign of potential accounting shenanigans and is often cited as a top red flag to predict accounting scandals . . . .The large increase in revenue in 2020 relative to a slowdown in receivables could suggest a pull forward of revenue recognition.”
Also on July 14, 2021, according to a Bloomberg article, Oatly said in an emailed statement “[t]he company is aware that a short seller is making false and misleading claims regarding the company.” Following the news on July 14, 2021, Oatly’s shares fell by about 3%.
If you purchased or otherwise acquired Oatly securities and would like to discuss our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this investigation, your rights, or your interests, please contact:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(212) 329-8571
E-mail: jcampisi@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
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