BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors that class action lawsuit has been filed on behalf of investors 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”). Whole Foods investors have until October 5, 2015 to file a lead plaintiff motion, and are encouraged to contact Howard G. Smith, Esq. to discuss their legal rights in the pending class action.
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, you are encouraged to contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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