DEADLINE ALERT: Brower Piven Alerts Shareholders Of Upcoming Deadline In Class Action Lawsuit And Urges Those With Losses In ...
September 22 2016 - 05:40PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court, Southern
District of New York on behalf of purchasers of Flowers Foods, Inc.
(NYSE: FLO) (“Flowers Foods” or the “Company”) securities during
the period between February 7, 2013 and August 10, 2016, inclusive
(the “Class Period”). Investors who wish to become proactively
involved in the litigation have until October 11, 2016 to seek
appointment as lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from
investment in Flowers Foods securities during the Class Period.
Members of the Class will be represented by the lead plaintiff and
counsel chosen by the lead plaintiff. No class has yet been
certified in the above action.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that the Company was
improperly classifying employees as independent contractors, that
the misclassification exposed the Company to legal liability and/or
negative regulatory action, and that proper classification would
have a negative impact on the Company’s operations.
According to the complaint, following an August 10, 2016
announcement that the U.S. Department of Labor notified Flowers
Foods that the Company was scheduled for a compliance review under
the Fair Labor Standards Act, that the revenue for the second
quarter was below the Wall Street projection, and that it was
lowering its 2016 guidance, the value of Flowers Foods shares
declined significantly.
If you have suffered a loss in excess of $100,000 from
investment in Flowers Foods securities purchased on or after
February 7, 2013 and held through the revelation of negative
information during and/or at the end of the Class Period and would
like to learn more about this lawsuit and your ability to
participate as a lead plaintiff, without cost or obligation to you,
please visit our website at
http://www.browerpiven.com/currentsecuritiescases.html. You may
also request more information by contacting Brower Piven either by
email at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Brower Piven also encourages anyone with information regarding the
Company’s conduct during the period in question to contact the
firm, including whistleblowers, former employees, shareholders and
others.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
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version on businesswire.com: http://www.businesswire.com/news/home/20160922006349/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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