NEW YORK, May 9, 2018 /PRNewswire/ -- Bernstein
Liebhard LLP announces that a class action lawsuit has been filed
on behalf of those who purchased or acquired the securities of Flex
Ltd. ("Flex" or the "Company") (NASDAQ: FLEX) between January 26, 2017 and April
26, 2018, both dates inclusive (the "Class Period"). The
lawsuit seeks to recover damages for Flex investors under the
federal securities laws.
To join the Flex class action, and/or if you have information
relating to this matter, please visit our FLEX SHAREHOLDER
PAGE or contact Daniel Sadeh
toll free at (877) 779-1414 or dsadeh@bernlieb.com.
According to the lawsuit, throughout the Class Period Defendants
made false and/or misleading statements and/or failed to disclose
that: (1) Flex's internal controls over financial reporting were
materially weak and deficient; (2) Flex had improperly accounted
for obligations in a customer contract and certain related
reserves; and (3) as a result, Flex's financial statements and
Defendants' statements about Flex's business, operations, and
prospects, were materially false and misleading at all relevant
times.
On April 26, 2018, during
aftermarket hours, Flex revealed that "the Audit Committee of the
Company's Board of Directors, with the assistance of independent
outside counsel, is undertaking an independent investigation of
allegations made by an employee including that the Company
improperly accounted for obligations in a customer contract and
certain related reserves. The independent outside counsel also
notified the San Francisco office
of the Securities and Exchange Commission of the allegations."
On this news, Flex's stock fell $3.61 per share, or over 21%, from its previous
closing price to close at $13.03 per
share on April 27, 2018, damaging
investors.
If you wish to serve as lead plaintiff, you must move the Court
no later than July 9, 2018. A lead
plaintiff is a representative party acting on behalf of other class
members in directing the litigation. Your ability to share in any
recovery doesn't require that you serve as lead plaintiff. If you
choose to take no action, you may remain an absent class
member.
Since 1993, Bernstein Liebhard LLP has recovered over
$3.5 billion for its clients. In
addition to representing individual investors, the Firm has been
retained by some of the largest public and private pension funds in
the country to monitor their assets and pursue litigation on their
behalf. As a result of its success litigating hundreds of lawsuits
and class actions, the Firm has been named to The National Law
Journal's "Plaintiffs' Hot List" thirteen times and listed in
The Legal 500 for ten consecutive years.
Please follow us for updates on
LinkedIn: https://www.linkedin.com/company/bernstein-liebhard-llp/
and Twitter: https://twitter.com/bernlieb.
ATTORNEY ADVERTISING. © 2018 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
Daniel Sadeh
Bernstein Liebhard LLP
http://www.bernlieb.com
(877) 779-1414
dsadeh@bernlieb.com
View original content with
multimedia:http://www.prnewswire.com/news-releases/flex-lawsuit-bernstein-liebhard-llp-announces-that-a-class-action-lawsuit-has-been-filed-against-flex-ltd---flex-300645481.html
SOURCE Bernstein Liebhard LLP