The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Northern District of California on behalf of shareholders of Flex Ltd. who purchased shares between January 26, 2017 and October 25, 2018.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: Defendants consistently assured the market that (1) the Company’s internal controls over financial reporting, including those related to customer contracts, were adequate and proper, and (2) the most crucial contract in the Company’s pipeline, a massive and very expensive contract with Nike to automate sneaker manufacturing, was repeatedly hitting key milestones while timely proceeding on a steady trajectory to profitability. Defendants failed to disclose or warn the market of material facts showing that the Nike contract was failing operationally and not commercially viable, instead pointing to purported accomplishments and a timely trajectory to breaking even
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 the respective securities during the class periods. 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. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until June 4, 2019 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.