Securities Fraud Class Action Filed Against Flux Power Holdings
Investors Encouraged to Participate
LOS ANGELES, Nov. 27, 2024 /PRNewswire/ — Glancy Prongay & Murray LLP (“GPM”) has announced that investors facing significant losses may take the lead in a class action lawsuit against Flux Power Holdings, Inc. (“Flux Power” or the “Company”) FLUX.
Class Period: November 11, 2022 – September 30, 2024
Deadline to be Lead Plaintiff: December 31, 2024
Potential lead plaintiffs can submit their contact information at www.glancylaw.com/cases/Flux-Power-Holdings-Inc/. Interested individuals can also get in touch with Charles H. Linehan of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to discuss their rights.
Allegations of Financial Mismanagement
The complaint alleges that during the Class Period, the Defendants did not disclose that: (1) Flux Power’s financial statements from November 10, 2022 onward contained overstated inventory, gross profits, current assets, and total assets; (2) costs of sales and net losses were understated; (3) it would need to restate financial statements filed since November 10, 2022; (4) there were internal control weaknesses, contradicting claims of adequate controls; and (5) positive statements about the Company’s operations were misleading or lacked a factual basis.
Next Steps for Investors
Currently, investors do not need to act immediately to be part of this class action. They may choose legal counsel or remain as absent members of the class. For further details on this lawsuit, or if there are any questions about rights concerning it, please contact Charles Linehan, Esquire, from GPM, located at 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com. When inquiring by email, include your address, phone number, and number of shares purchased.
This press release may be classified as Attorney Advertising in some regions according to applicable laws and ethical rules.
Contact Information
Contact: Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com
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SOURCE Glancy Prongay & Murray LLP
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