NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the District of Arizona on behalf of all persons or entities who purchased or otherwise acquired Inventure Foods Incorporated (NASDAQ:SNAK) securities between March 3, 2016 and March 16, 2017 (the “Class Period”). Investors have until May 30, 2017 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and failed to disclose that Inventure lacked adequate internal controls over accounting and financial reporting and Inventure’s statements of operations in its fiscal year 2015 results press release contained incorrect figures.
On March 16, 2017, post market, Inventure filed a Form NT 10-K with the U.S. Securities & Exchange Commission, stating that the company would postpone the filing of its 2016 annual report. The Company further disclosed that it anticipates that “its statements of operations contained in the Annual Report will differ materially from those reported for its fourth quarter and fiscal year 2015.”
Following this news, Inventure shares dropped $1.02 per share over a three-day period, or over 20.2%, to close at $4.02 per share on March 21, 2017.
If you purchased or otherwise acquired Inventure securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, 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 Brandon Walker, Esq. by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Inventure lawsuit, please go to www.bespc.com/snak. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.