NEW YORK, Sept. 24, 2015 /PRNewswire/ -- Bernstein
Liebhard LLP today announced that less than two weeks remain to
file a motion for lead plaintiff in a class action pending in the
United States District Court for the Western District of
Texas on behalf of a class (the
"Class") consisting of all persons or entities who purchased the
securities of Whole Foods Market, Inc. ("Whole Foods" or the
"Company") (NASDAQ: WFM) between August 9,
2013 and July 30, 2015,
inclusive (the "Class Period"). The action alleges violations
of the Securities Exchange Act of 1934.
Whole Foods is a retailer of natural and organic foods.
Among other things, the Company's stores offer produce,
grocery, meat, seafood, coffee, tea, beer, wine, cheese,
nutritional supplements, vitamins, and body care products, as well
as lifestyle products, including books, pet products, and household
products.
The complaint alleges that throughout the Class Period,
Defendants made false and/or misleading statements and failed to
disclose that: (i) Whole Foods 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 July 29, 2015, after the close
of trading, Whole Foods 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'
allegation that the Company had 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.
Plaintiffs seek to recover damages on behalf of all Class
members who invested in Whole Foods securities during the Class
Period. If you invested in Whole Foods securities as
described above, and lost money on the transactions, you may wish
to join in this action to serve as lead plaintiff. In order
to do so, you must meet certain requirements set forth in the
applicable law and file appropriate papers no later than
October 5, 2015.
A "lead plaintiff" is a representative party that acts on behalf
of other class members in directing the litigation. In order
to be appointed lead plaintiff, the court must determine that the
class member's claim is typical of the claims of other class
members, and that the class member will adequately represent the
class. Under certain circumstances, one or more class members
may together serve as lead plaintiff. Your ability to share
in any recovery is not, however, affected by the decision whether
or not to serve as a lead plaintiff. You may retain Bernstein
Liebhard LLP, or other counsel of your choice, to serve as your
counsel in this action.
If you are interested in discussing your rights as a Whole Foods
investor and/or have information relating to the matter, please
contact Joseph R. Seidman, Jr. at
(877) 779-1414 or seidman@bernlieb.com.
Bernstein Liebhard LLP has pursued hundreds of securities,
consumer and shareholder rights cases and recovered over
$3.5 billion for its clients.
The National Law Journal has recognized Bernstein Liebhard
for twelve consecutive years as one of the top plaintiffs' firms in
the country.
You can obtain a copy of the complaint from the clerk of the
court for the United States District Court for the Western District
of Texas.
Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
(877) 779-1414
www.bernlieb.com
ATTORNEY ADVERTISING. © 2015 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Joseph R. Seidman, Jr.
Bernstein Liebhard LLP
http://www.bernlieb.com
(212) 779-1414
seidman@bernlieb.com
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