RADNOR, PA / ACCESSWIRE / May 14, 2018 / Kaskela Law LLC reminds Flex, Ltd. (NASDAQ: FLEX) ("Flex" or the "Company") shareholders that a class action lawsuit has been filed on behalf of purchasers of the Company's securities between January 26, 2017 and April 26, 2018, inclusive (the "Class Period").
DEADLINE NOTICE: Investors who purchased Flex securities during the Class Period may, no later than July 7, 2018, seek to be appointed as a lead plaintiff representative of the investor class. Flex investors are encouraged to visit www.kaskelalaw.com/case/flex to receive additional information about this action prior to the deadline.
On April 26, 2018, Flex issued a press release disclosing, among other things, 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."
Following this news, shares of the Company's stock declined $3.61 per share, or over 21%, to close on April 27, 2018 at $13.03, on heavy trading volume.
The shareholder class action complaint alleges that Flex and certain of its senior executive officers made false and misleading statements and/or failed to disclose to investors that: (i) the Company's internal controls over financial reporting were materially weak and deficient; and (ii) the Company had improperly accounted for obligations in a customer contract and certain related reserves. The complaint further alleges that, as a result of the foregoing, investors purchased Flex's securities at artificially inflated prices during the Class Period and sustained investment losses following the Company's April 26, 2018 disclosure.
Flex investors are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 - 1585 or (888) 715 - 1740, or via www.kaskelalaw.com/case/flex, to discuss their legal rights and options with respect to this action prior to July 7, 2018.
Kaskela Law LLC exclusively prosecutes shareholder actions in state and federal courts throughout the country on behalf of investors. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
201 King of Prussia Road
Suite 650
Radnor, PA 19087
(484) 258 - 1585
(888) 715 - 1740
skaskela@kaskelalaw.com
www.kaskelalaw.com
SOURCE: Kaskela Law LLC
