NEW YORK, June 22, 2018 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal class action securities lawsuit has been filed in the United States District Court for the Northern District of California on behalf of purchasers of the securities of Flex Ltd. (NASDAQ: FLEX ) (“Flex”) from January 26, 2017 through April 26, 2018, both dates inclusive (the “Class Period”).
Investors who have incurred losses in shares of Flex Ltd. a re urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com .
If you have incurred losses in the shares of Flex Ltd. and would like to assist with the litigation process as a lead plaintiff, you may, no later than July 9, 2018 , request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Flex Ltd.
According to the filed complaint, defendants during the Class Period made materially false and/or misleading statements and/or failed to disclose that:
- Flex’s internal controls over financial reporting were materially weak and deficient;
- Flex had improperly accounted for obligations in a customer contract and certain related reserves, and;
- as a result of the foregoing, Flex’s financial statements and defendants’ statements about Flex’s business, operations, and prospects were materially false and misleading at all relevant times.
On April 26, 2018, Flex announced the Audit Committee of the Company’s Board of Directors, with the assistance of independent outside counsel, was undertaking an independent investigation of allegations made by an employee including that Flex improperly accounted for obligations in a customer contract and certain related reserves. Flex also announced its independent outside counsel reported the investigation to the U.S. Securities and Exchange Commission (SEC).
As a result of this news, the price of Flex shares dropped $3.61, or over 21%, to close at $13.03 on April 27, 2018.
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com , or visit our website at www.whafh.com .
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Contact:
Wolf Haldenstein Adler Freeman & Herz LLP Kevin Cooper, Esq. Gregory Stone, Director of Case and Financial Analysis Email: gstone@whafh.com , kcooper@whafh.com or classmember@whafh.com Tel: (800) 575-0735 or (212) 545-4774
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