NEW YORK--(BUSINESS WIRE)--The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Flex Ltd. (NASDAQ:FLEX) who purchased shares between January 26, 2017 and April 26, 2018. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (1) the Company's internal controls over financial reporting were materially weak and deficient; (2) the Company had improperly accounted for obligations in a customer contract and certain related reserves; and (3) 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.”
Shareholders have until July 9, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-c/flex-ltd-2?wire=2.
Joseph Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.