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Cray Group Wins Major Battle

By Joel Hardy

10/16/2013

(KAIR)--MGP Ingredients stockholders will soon be able to hold their annual meeting after nearly two months of waiting. The current leadership of the company filed a stay with Kansas courts back in August in an attempt to keep stockholders from meeting. The Cray group, who is working to regain control of the company that has been in their family for generations, filed a motion to lift that motion. According to a document filed by the court of appeals on October 4th, the court agreed, and granted the request. The stay will be lifted on October 22nd. Karen Seaberg, with the Cray group says that the current leadership of the company has no standing to challenge the validity of the voting trust holding preferred stock, and that now there is no excuse to not set a meeting date and hold a meeting, so that stockholders can have their say.

Seaberg thinks that it is time to move on and get back to running the company the way it should be run. She says that the other directors need to fulfill their responsibilities and move toward getting a meeting set.

No meeting date for stockholders has been set at this time.

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