A lawsuit was filed on behalf of investors in Whole Foods Market, Inc. (NASDAQ:WFM) shares over alleged securities laws violations and NASDAQ:WFM investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/02/2015 -- An investor in NASDAQ:WFM shares filed a lawsuit in the Texas over alleged Securities Laws Violations by Whole Foods Market, Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Whole Foods Market, Inc. (NASDAQ:WFM) have certain options and for certain investors are short and strict deadlines running. Deadline: October 5, 2015. NASDAQ:WFM investors should contact the Shareholders Foundation at mail@shareholdersfoundation or call 858-779-1554.
The plaintiff claims that Defendants made certain false and/or misleading statements and/or failed to disclose that: (i) the Company routinely overstated the weight of its pre-packaged products and overcharged customers; and (ii) as a result of the foregoing, Defendants' statements about Whole Foods's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
On June 25, 2015, the New York City Department of Consumer Affairs ("NYCDA") announced it had uncovered "systematic overcharging for pre-packaged foods" at Whole Foods' eight New York City locations. On a survey of 80 different types of prepackaged products, NYCDA reported that it had found thousands of potential overcharging violations. In response, the Company stated that there was no evidence of overcharging and responded that it would vigorously defend itself against what it described as "overreaching allegations" by NYCDA.
Shares of Whole Foods Market, Inc. (NASDAQ:WFM) declined to as low as $30.18 per share on August 24, 2015.
Those who purchased shares of Whole Foods Market, Inc. (NASDAQ:WFM) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego