Evolv Investors Alerted to Potential Class Action Lawsuit by Faruqi & Faruqi
On December 5, 2024, Faruqi & Faruqi LLP, a renowned national securities law firm, announced its investigation into Flux Power Holdings, Inc. This announcement serves as a reminder to Evolv investors about the pending class action lawsuit against Flux Power with the crucial lead plaintiff deadline approaching on December 31, 2024. The firm is encouraging investors who have suffered losses exceeding $75,000 in Flux Power’s stock between November 11, 2022, and September 30, 2024, to reach out and explore their legal options.
The firm asserts that the allegations against Flux Power revolve around claims of misleading statements and failures to disclose material facts, which have potentially harmed investors. Notably, it is claimed that the Company’s financial statements during the specified period reflected overstated inventory, gross profit, and total assets. Additionally, it is alleged that Flux Power’s cost of sales and net loss were understated, necessitating a restatement of its previously filed documents.
As further details emerged, the stock of Flux Power experienced significant declines in value. On September 6, 2024, following the release of information regarding accounting errors related to inventory management, the stock price fell by 5.36%, closing at $3.00 per share. This decline was exacerbated on the following trading day, where shares dipped another 4%, bringing the price down to $2.88.
The ongoing lawsuit seeks to appoint a lead plaintiff from among the class of individuals who suffered financial losses. This role is significant as the lead plaintiff directs the legal course of the action, representing the interests of the collective group of investors. Importantly, the choice to serve as lead plaintiff does not alter an individual’s claim to any recovery, providing options for members of the putative class.
Faruqi & Faruqi LLP is dedicated to advocating for the rights of shareholders, and they invite anyone with relevant information about Flux Power's operations, including former employees, shareholders, or whistleblowers, to come forward. This assistance can be invaluable in bolstering the lawsuit’s claims and ultimately benefiting all affected parties.
To stay informed about developments regarding this case and to engage with the firm, interested investors can visit www.faruqilaw.com/FLUX or contact partner Josh Wilson directly at 877-247-4292 or 212-983-9330, extension 1310.
Faruqi & Faruqi, LLP has a long history of recovering substantial sums for investors since its inception in 1995, recovering hundreds of millions of dollars over the years. The firm’s offices span various states, including New York, Pennsylvania, California, and Georgia. They stand ready to provide assistance and counsel to those affected by the issues surrounding Flux Power Holdings.
In a landscape where timely information and a proactive approach can significantly impact the outcome of investment losses, investors are urged to assess their positions and act promptly. The December 31, 2024, deadline is looming, emphasizing the importance of immediate action for those seeking to participate in this class action lawsuit against Flux Power.
The firm asserts that the allegations against Flux Power revolve around claims of misleading statements and failures to disclose material facts, which have potentially harmed investors. Notably, it is claimed that the Company’s financial statements during the specified period reflected overstated inventory, gross profit, and total assets. Additionally, it is alleged that Flux Power’s cost of sales and net loss were understated, necessitating a restatement of its previously filed documents.
As further details emerged, the stock of Flux Power experienced significant declines in value. On September 6, 2024, following the release of information regarding accounting errors related to inventory management, the stock price fell by 5.36%, closing at $3.00 per share. This decline was exacerbated on the following trading day, where shares dipped another 4%, bringing the price down to $2.88.
The ongoing lawsuit seeks to appoint a lead plaintiff from among the class of individuals who suffered financial losses. This role is significant as the lead plaintiff directs the legal course of the action, representing the interests of the collective group of investors. Importantly, the choice to serve as lead plaintiff does not alter an individual’s claim to any recovery, providing options for members of the putative class.
Faruqi & Faruqi LLP is dedicated to advocating for the rights of shareholders, and they invite anyone with relevant information about Flux Power's operations, including former employees, shareholders, or whistleblowers, to come forward. This assistance can be invaluable in bolstering the lawsuit’s claims and ultimately benefiting all affected parties.
To stay informed about developments regarding this case and to engage with the firm, interested investors can visit www.faruqilaw.com/FLUX or contact partner Josh Wilson directly at 877-247-4292 or 212-983-9330, extension 1310.
Faruqi & Faruqi, LLP has a long history of recovering substantial sums for investors since its inception in 1995, recovering hundreds of millions of dollars over the years. The firm’s offices span various states, including New York, Pennsylvania, California, and Georgia. They stand ready to provide assistance and counsel to those affected by the issues surrounding Flux Power Holdings.
In a landscape where timely information and a proactive approach can significantly impact the outcome of investment losses, investors are urged to assess their positions and act promptly. The December 31, 2024, deadline is looming, emphasizing the importance of immediate action for those seeking to participate in this class action lawsuit against Flux Power.
Topics Financial Services & Investing）
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