Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Nov. 04, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Flux Power Holdings, Inc. ("Flux Power" or the "Company") (NASDAQ: FLUX) investors of a class action representing investors that bought securities between November 11, 2022 and September 30, 2024, inclusive (the "Class Period"). Flux Power investors have until December 31, 2024 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The lawsuit alleges that during the Class Period, the defendants made false or misleading statements and failed to disclose critical information, including: (1) Flux Power’s financial statements from November 10, 2022, to the present contained inflated figures for inventory, gross profit, current assets, and total assets; (2) Flux Power underestimated its cost of sales and reported net losses; (3) as a result, Flux Power would need to restate its previously issued financial statements for that period; (4) Flux Power either understated internal control weaknesses or claimed to have sufficient internal controls when it did not; and (5) consequently, the defendants’ statements regarding the company’s business, operations, and future prospects were materially false, misleading, or lacked a reasonable basis. When the truth emerged, the lawsuit contends that investors suffered damages.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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