A lawsuit was filed on behalf of investors in Flowers Foods, Inc. (NYSE:FLO) shares over alleged securities laws violations and NYSE:FLO investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/17/2016 -- An investor, who purchased shares of Flowers Foods, Inc. (NYSE:FLO), filed a lawsuit in New York over alleged Securities Laws violations by Flowers Foods, Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Flowers Foods, Inc. (NYSE:FLO) have certain options and for certain investors are short and strict deadlines running. Deadline: October 11, 2016. NYSE:FLO investors should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The plaintiff alleges on behalf of purchasers of Flowers Foods, Inc. (NYSE:FLO) common shares between February 7, 2013, and August 10, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 7, 2013, and August 10, 2016, 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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