NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national securities and consumer rights litigation firm, is notifying investors that a class action lawsuit has been filed against Flex, Ltd. (NASDAQ: FLEX) (“Flex” or the “Company”) and other defendants, related to alleged violations of federal securities laws. If you purchased shares of Flex between January 26, 2017 and April 26, 2018, you are encouraged to contact a Scott+Scott attorney at (844) 818-6982 for additional information.
Flex provides design, manufacturing, distribution, and aftermarket services.
The lawsuit alleges that Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects, specifically: (1) that the Company’s internal controls over financial reporting were materially weak and deficient; (2) that the Company had improperly accounted for obligations in a customer contract and certain related reserves; and, (3) that, as a result of the foregoing, the Company’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, Flex issued a press release disclosing allegations by a former employee that the Company improperly accounted for obligations in a customer contract and certain related reserves. The Company further announced that its Audit Committee was undertaking an investigation of the matter with the assistance of independent outside counsel.
On this news, the price of Flex shares fell $3.61, or 21.7%, to close at $13.03 per share on April 27, 2018.
What You Can Do
If you purchased Flex shares between January 26, 2017 and April 26, 2018, inclusive, or if you have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at firstname.lastname@example.org. Investors have until July 9, 2018, to move for lead plaintiff.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.