SAN DIEGO, Sept. 06, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in New York on behalf of certain purchasers of shares of Flowers Foods, Inc. (NYSE:FLO) over alleged Securities Laws Violations by Flowers Foods. The lawsuit seeks to recover damages for certain (NYSE:FLO) investors.
Investors who purchased shares of Flowers Foods, Inc. (NYSE:FLO) have certain options and for certain investors there are short and strict deadlines running. Deadline: October 11, 2016. (NYSE:FLO) investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
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.
Those who purchased Flowers Foods, Inc. (NYSE:FLO) shares should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.