Investor Alert: Law Offices of Howard G. Smith Announces That a Class Action Has Been Filed on Behalf of Whole Foods Market, ...
August 10 2015 - 10:58AM
Business Wire
Law Offices of Howard G. Smith announces that a class action has
been filed on behalf of investors of Whole Foods Market, Inc.
(“Whole Foods” or the “Company”) (NASDAQ:WFM) who purchased shares
between August 9, 2013 and July 30, 2015 inclusive (the “Class
Period”). Whole Foods investors have until October 5, 2015
to file a lead plaintiff motion, and are encouraged to contact
Howard G. Smith, Esq. to discuss their legal rights in the pending
class action.
On July 29, 2015, after the close of trading, the organic grocer
released lower-than-expected quarterly earnings and fourth-quarter
guidance, which the company attributed in part to the New York City
Department of Consumer Affairs’ allegations that accuses the
Company of a long running scheme to defraud Whole Foods shoppers
through mislabeling product weights. On this news, the company's
shares fell $4.74 per share, or nearly 12%, to close on July 30,
2015 at $36.08 per share.
The Complaint alleges that Whole Foods misled investors by
failing to adequately 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’ business, operations, and prospects
were false and misleading and/or lacked a reasonable basis.
If you purchased shares of Whole Foods during the Class Period,
have information regarding these allegations, and/or would like to
learn more about your legal rights in connection with this notice
please contact Howard G. Smith, Esquire, of Law Offices of Howard
G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania
19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847,
or by email to howardsmith@howardsmithlaw.com, or visit our website
at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20150810005860/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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