GPM Announces the Filing of a Securities Class Action on Behalf of Whole Foods Market, Inc. Investors
September 22 2015 - 11:31AM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) 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. If you have suffered
losses of over $100,000 on your investment in Whole Foods you are
encouraged to contact GPM to discuss your legal rights.
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 or would like to learn more about these claims, or
have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Casey
Sadler, of GPM, 1925 Century Park East, Suite 2100, Los Angeles,
California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by
email to shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by email please include
your mailing address, telephone number and number of shares
purchased.
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/20150922006131/en/
Glancy Prongay & Murray, Los AngelesCasey Sadler,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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