GPM Reminds Whole Foods Market, Inc. Investors Of the October 5th Deadline
September 30 2015 - 11:11AM
Business Wire
Glancy Prongay & Murray LLP
(“GPM”) reminds investors of the upcoming October 5, 2015
deadline to file a lead plaintiff motion in the class action filed
on behalf of a class (the “Class”) of purchasers of the securities
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”) and have been damaged by
the recent declines in the Company’s stock price.
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 Lesley
Portnoy, 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/20150930006291/en/
Glancy Prongay & Murray, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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