Investigation Initiated into Flux Power Holdings, Inc.
Investigation Initiated into Flux Power Holdings, Inc.
Bronstein, Gewirtz & Grossman, LLC has launched an investigation into Flux Power Holdings, Inc. (NASDAQ: FLUX), focusing on potential claims on behalf of investors who purchased the company’s securities. This investigation comes in light of troubling announcements from the Company regarding its financial reporting.
Understanding the Investigation
On September 5, 2024, Flux Power issued a current report on Form 8-K with the SEC. In this important announcement, the Company's board of directors and audit committee stated that several previously issued financial statements should no longer be relied upon. This included the audited financial statements for the fiscal year that concluded on June 30, 2023, and several unaudited statements through March 31, 2024. The reason? Errors related to the accounting for inventory that necessitated a restatement of financial results.
Impact on Stock Prices
Following the release of this significant news, the value of Flux shares saw a notable decline. On September 6, 2024, the stock price fell by $0.17, translating to a 5.36% drop, closing at $3.00. This downward trend continued, with an additional decrease of $0.12, or 4%, leading to a closing price of $2.88 on September 9, 2024. Such rapid fluctuations can be concerning for investors, necessitating further investigation.
How Investors Can Assist
If you have information that could aid this investigation or have invested in Flux securities, your input is invaluable. It’s recommended to visit the firm’s site for additional information on how you can contribute. Furthermore, you can contact Peretz Bronstein or Nathan Miller from Bronstein, Gewirtz & Grossman, LLC at 332-239-2660.
No Financial Risk for Investors
Importantly, Bronstein, Gewirtz & Grossman operates on a contingency fee basis when representing investors in class actions. This means that if the firm does not win, there are no costs incurred by the investors.
About Bronstein, Gewirtz & Grossman, LLC
Bronstein, Gewirtz & Grossman, LLC is a reputable law firm recognized nationally for its advocacy on behalf of investors. The firm specializes in securities fraud class actions and shareholder derivative lawsuits, successfully recovering hundreds of millions of dollars for investors across the country.
Frequently Asked Questions
What is the focus of the investigation into Flux Power Holdings?
The investigation centers on potential financial inaccuracies in the Company’s previously published reports and the impact on investors' rights.
Why did Flux Power’s stock price drop?
The stock price dropped due to the announcement of financial reporting errors that led the board to state that prior financial statements should no longer be relied upon.
How can investors contact the law firm for assistance?
Investors can reach out to Bronstein, Gewirtz & Grossman at 332-239-2660 for assistance regarding the investigation.
Is there any cost associated with joining the class action?
No, there are no upfront costs to investors as the firm works on a contingency fee basis, meaning they only get paid if you win.
What does a contingency fee mean in this context?
A contingency fee means that attorneys will only collect fees and expenses if the case is successful, minimizing financial risk for investors.
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