Investigation Launched into Flux Power Holdings, Inc.
Bronstein, Gewirtz & Grossman, LLC has officially begun looking into Flux Power Holdings, Inc. (NASDAQ: FLUX). The focus is on potential claims for investors who bought the company's securities. This investigation follows concerning announcements from the company regarding its financial reporting.
What the Investigation Entails
On September 5, 2024, Flux Power filed a current report on Form 8-K with the SEC. In this significant update, the Company’s board of directors and audit committee revealed that several financial statements previously issued should not be trusted. This includes the audited financial statements for the fiscal year ending June 30, 2023, as well as various unaudited statements up to March 31, 2024. The cause of this was errors in inventory accounting, which required a restatement of the financial results.
Effects on Stock Prices
After the announcement, Flux's share price experienced a marked decline. On September 6, 2024, the stock price dropped by $0.17, or 5.36%, closing at $3.00. The downward trend continued with a further decline of $0.12, or 4%, leading to a closing price of $2.88 on September 9, 2024. Such rapid changes can alarm investors and call for further scrutiny.
How Investors Can Contribute
If you possess information that could help with this investigation or are an investor in Flux securities, your insights are important. It's advisable to visit the firm's website for more details on how to contribute. You can also get in touch with Peretz Bronstein or Nathan Miller from Bronstein, Gewirtz & Grossman, LLC at 332-239-2660.
No Financial Risk for Investors
It's worth noting that Bronstein, Gewirtz & Grossman operates under a contingency fee structure when representing investors in class actions. This means if the firm does not achieve a win, investors will not incur any costs.
About Bronstein, Gewirtz & Grossman, LLC
Bronstein, Gewirtz & Grossman, LLC is a well-respected law firm known nationwide for advocating on behalf of investors. The firm is specialized in securities fraud class actions and shareholder derivative lawsuits, having successfully recovered hundreds of millions of dollars for investors throughout the country.
Frequently Asked Questions
What does the investigation into Flux Power Holdings focus on?
The investigation aims to identify financial inaccuracies in the Company’s previously released reports and assess their impact on investors' rights.
What caused the drop in Flux Power’s stock price?
The stock price fell following the announcement of financial reporting errors that led to the board advising that earlier financial statements should no longer be trusted.
How can investors get in touch with the law firm for help?
Investors can contact Bronstein, Gewirtz & Grossman at 332-239-2660 for assistance with the investigation.
Is there any charge for joining the class action?
No, investors won't face any upfront costs as the firm operates on a contingency fee basis, meaning they only get paid if they win.
What does “contingency fee” mean in this situation?
A contingency fee indicates that attorneys will only charge fees and expenses if the case succeeds, which reduces financial risk for investors.
