FLUX Power Holdings Investors Encouraged to Participate in Class Action Lawsuit Against the Company

Important Call to Action for FLUX Investors

On November 23, 2024, the Rosen Law Firm, dedicated to protecting the rights of investors, announced a significant development for purchasers of Flux Power Holdings, Inc. (NASDAQ: FLUX) securities. Investors who acquired shares between November 11, 2022, and September 30, 2024, should note the approaching deadline of December 31, 2024, to apply as lead plaintiff in an ongoing class action lawsuit concerning allegations of securities fraud perpetrated by the company.

Background of the Case

The lawsuit alleges that throughout the specified Class Period, Flux Power Holdings made materially false and misleading statements about its financial performance. This included overstating essential financial metrics, such as inventory, gross profit, current assets, and total assets. Additionally, the complaint details how the company understated its cost of sales and net loss, which ultimately led to the necessity of restating prior financial statements. Furthermore, it was revealed that Flux Power did not have adequate internal controls, despite previous claims to the contrary. As a direct consequence of these misrepresentations, investors suffered significant financial harm when the true nature of the company's financial status was finally disclosed.

How to Get Involved

For investors who purchased FLUX securities during the Class Period and are interested in potentially recovering losses, it is crucial to act promptly. Joining the class action does not require payment of initial costs, as legal fees will be handled on a contingency basis by the Rosen Law Firm. Interested parties can enroll by visiting their official website at rosenlegal.com or contacting attorney Phillip Kim via phone at 866-767-3653. Additionally, he may be reached through email at [email protected].

Being appointed as a lead plaintiff involves representing the larger group of investors, helping to guide the litigation process. Interested individuals must submit their applications to the court by the stated deadline.

Why Choose Rosen Law Firm?

The Rosen Law Firm is recognized for its strong track record in securities class actions. The firm has achieved numerous successful settlements for investors, including one of the largest securities class action settlements against a Chinese company. Since 2013, it has been ranked among the top firms by ISS Securities Class Action Services, solidifying its reputation within the industry. The firm's founder, Laurence Rosen, was honored as a Titan of the Plaintiffs’ Bar by Law360 in 2020, exemplifying the experience and expertise that clients can depend on.

What Should Investors Do Next?

As reported, no class has yet been certified. This means potential plaintiffs are not legally represented until they opt into the class. Interested investors can choose to remain absent from the class if they prefer, but should note that recovery from any future settlement will not depend on being a lead plaintiff. These uncertain times demand proactive measures; thus, staying informed and engaged is critical.

Conclusion

For Flux Power investors, this class action lawsuit presents an opportunity to seek redress for potential financial losses resulting from alleged fraudulent activities. The deadline for potential lead plaintiffs is nearing, making it essential for affected investors to take action swiftly to protect their rights and interests. Details can be kept up to date through the Rosen Law Firm’s LinkedIn, Twitter, or Facebook pages.

Investors are encouraged to consult qualified legal counsel who specializes in securities class actions to navigate this complex legal landscape.