Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in Flex Ltd. (NASDAQ:FLEX) in connection to alleged violations of securities laws by FLEX. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in Flex Ltd. between January 26, 2017 and October 25, 2018.
The class action complaint specifically alleges that during the period in question, FLEX provided false and/or misleading material information and/or failed to disclose adverse material information to the public, namely: that there were flaws and weaknesses in the company’s internal controls governing its reporting of finances; that the company had made erroneous accountings for obligations in connection to a contract with a customer as well as reserves related to it; that the company was not able “to reach a commercially viable solution” in connection with a co-manufacturing product with the company Nike, as a result of certain operational issues, which led to the product’s conclusion; and that consequently the company’s statements to the public during the relevant period, including its financial statements, were false and misleading. The complaint alleges that when true facts emerged, investors suffered losses.
According to the company’s website, Flex Ltd. logistics company that “designs and builds Intelligent Products for a Connected World.” Its description goes on to state that it is involved in the development and delivery of design, engineering, manufacturing, supply chain insight and logistics services to enterprise customers in a variety of industries and markets. The company has about 200,000 employees across more than 100 site in 30 countries. It trades on the Nasdaq exchange under the symbol FLEX.
A class action lawsuit has already been filed in connection with Flex Ltd. If you wish to serve as lead plaintiff in the FLEX lawsuit, you must move the Court no later than June 4, 2019. If you wish to join the litigation, please contact Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.