An investigation on behalf of current long term investors in Flowers Foods, Inc. (NYSE:FLO) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NYSE:FLO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/25/2017 -- An investigation on behalf of investors in shares of Flowers Foods, Inc. (NYSE:FLO) concerning potential breaches of fiduciary duties by certain directors of Flowers Foods, Inc. was announced.
Investors who are current long term investors in Flowers Foods, Inc. (NYSE:FLO) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm for current long term investors in (NYSE:FLO stocks follows a lawsuit filed recently against Flowers Foods, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE:FLO stocks, concerns whether certain Flowers Foods officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges that the Defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that Flowers Foods, Inc. was improperly classifying employees as independent contractors, that the misclassification exposed Flowers Foods, Inc. to legal liability and/or negative regulatory action, that proper classification would have a negative impact on the Company's operations, and that, as a result of the foregoing, Defendants' statements about Flowers Foods' business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On August 10, 2016, Flowers Foods, Inc reported its second quarter 2016 results and revised its fiscal 2016 guidance. Flowers Foods, Inc also disclosed that the U.S. Department of Labor had notified Flower Foods that it has been scheduled for a compliance review under the Fair Labor Standards Act.
Shares of Flowers Foods, Inc. (NYSE:FLO) declined from $19.62 per share on July 26, 2016 to as low as $14.35 per share on August 11, 2016.
Those who purchased shares of Flowers Foods, Inc. have certain options and should contact the Shareholders Foundation.
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