Flex Lawsuit: Bernstein Liebhard LLP Announces That A Class Action Lawsuit Has Been Filed Against Flex Ltd. - FLEX

NEW YORK, May 9, 2018 /PRNewswire/ -- Bernstein Liebhard LLP announces that a class action lawsuit has been filed on behalf of those who purchased or acquired the securities of Flex Ltd. ("Flex" or the "Company") (NASDAQ: FLEX) between January 26, 2017 and April 26, 2018, both dates inclusive (the "Class Period"). The lawsuit seeks to recover damages for Flex investors under the federal securities laws.

To join the Flex class action, and/or if you have information relating to this matter, please visit our FLEX SHAREHOLDER PAGE or contact Daniel Sadeh toll free at (877) 779-1414 or [email protected].

According to the lawsuit, throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Flex's internal controls over financial reporting were materially weak and deficient; (2) Flex had improperly accounted for obligations in a customer contract and certain related reserves; and (3) as a result, Flex's financial statements and Defendants' statements about Flex's business, operations, and prospects, were materially false and misleading at all relevant times.

On April 26, 2018, during aftermarket hours, Flex revealed 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. The independent outside counsel also notified the San Francisco office of the Securities and Exchange Commission of the allegations."

On this news, Flex's stock fell $3.61 per share, or over 21%, from its previous closing price to close at $13.03 per share on April 27, 2018, damaging investors.

If you wish to serve as lead plaintiff, you must move the Court no later than July 9, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.

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ATTORNEY ADVERTISING. © 2018 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin.  Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information
Daniel Sadeh
Bernstein Liebhard LLP
http://www.bernlieb.com 
(877) 779-1414
[email protected]

SOURCE Bernstein Liebhard LLP

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