#United States #Securities Fraud #Bensalem #Flux Power #Howard G. Smith

Opportunity for Investors in Flux Power Holdings, Inc.

Investors who have incurred significant financial losses with Flux Power Holdings, Inc. (NASDAQ: FLUX) now have the opportunity to take proactive steps towards leading a class-action lawsuit against the company for securities fraud. This comes after the Law Offices of Howard G. Smith announced that a formal complaint has been filed, highlighting serious allegations against Flux Power that pertain to misleading financial information.

Details of the Class Action

The alleged misconduct spans a critical period—from November 11, 2022, to September 30, 2024—and encompasses several key claims. The complaint asserts that during this timeframe, Flux Power's financial statements were inaccurate, with claims of inflated inventory and assets. Specifically, the allegations indicate:
1. Overstated Financial Figures: The financial reports from Flux Power included exaggerated numbers regarding inventory, gross profit, current assets, and total assets.
2. Understated Costs: The company reportedly understated its cost of sales, effectively misrepresenting its net loss to investors.
3. Restatement of Financials: It is suggested that Flux Power may need to revisit and restate its financial statements that were submitted from November 10, 2022, onwards.
4. Internal Control Weaknesses: The company is also accused of downplaying major internal control issues, presenting a façade of adequate control systems when they were inadequate at best.
5. Misleading Communications: Positive statements made about the company's operations, business health, and future prospects were allegedly made without sufficient basis, thus misleading investors.

Importance for Affected Investors

For investors impacted by these developments, it is crucial to recognize that in order to be part of this class action, no immediate action is required on their part. They can opt to either retain legal counsel or remain passive members of the lawsuit without any obligation to act immediately. However, it is equally important for them to be informed about their legal rights and the potential outcomes of this case.

Interested parties can reach out to the Law Offices of Howard G. Smith for guidance. Howard G. Smith encourages all investors suffering losses during the specified period to discuss their legal options by contacting the firm directly at 215-638-4847 or through email: [email protected].

Next Steps and Deadlines

The deadline to apply as a lead plaintiff in this class action lawsuit is set for December 31, 2024. If you have been impacted by the alleged fraudulent activities of Flux Power Holdings, now is the time to seek counsel and consider taking part in this significant legal movement.

Conclusion

Legal proceedings like these are pivotal for holding companies accountable for their financial reporting and business practices. With this potential class action, affected investors of Flux Power Holdings, Inc. are poised to take a stand against the alleged misconduct, and further details can be gathered directly from the law office, ensuring that all affected parties are informed and have a voice in this matter.