An investigation for investors in Flex Ltd. (NASDAQ: FLEX) shares over potential securities laws violations by Flex Ltd. was announced.
San Diego, CA -- (SBWIRE) -- 05/07/2018 -- Felx Ltd is under investigation over possible securities laws violations in connection with certain financial statements made by Flex Ltd.
Investors who purchased shares of Flex Ltd. (NASDAQ: FLEX), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Flex Ltd. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On April 26, 2018, after the close of trading, Flex Ltd. disclosed its fourth quarter and fiscal year-ended March 31, 2018 financial results. Flex Ltd. disclosed that the "Audit Committee of the Company's Board of Directors, with the assistance of independent outside counsel, is undertaking an independent investigation of allegations made by an employee including that the Company improperly accounted for obligations in a customer contract and certain related reserves. The independent outside counsel also notified the San Francisco office of the Securities and Exchange Commission of the allegations and that it will report the findings of the independent investigation upon its conclusion." "At this time, the Company is not aware of any issues under investigation that will materially affect the fourth quarter or fiscal year results, but the investigation is ongoing. The Company has also not yet determined whether the issues will impact previously reported periods and, if so, whether that impact will be material. The historic, fourth quarter, and fiscal year results disclosed in this release do not reflect the impact, if any, from the issues under investigation."
On April 27, 2018, before the market opened it was reported that Flex shares "plunged 19% toward a 1 1/2-year low early Friday, to pace all the premarket decliners, after the contract manufacturer missed profit expectations, provided a downbeat outlook and said it was investigating allegations of improper accounting."
Those who purchased shares of Flex Ltd. (NASDAQ: FLEX) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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