NEW YORK, Oct. 18, 2024 (GLOBE NEWSWIRE) —
Why: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Flux Power Holdings, Inc. (NASDAQ: FLUX) resulting from allegations that Flux Power may have issued materially misleading business information to the investing public.
So What: If you purchased Flux Power securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
What to do next: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=28783 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.
What is this about: On September 5, 2024, after the market closed, Flux Power Holdings, Inc. filed a current report on Form 8-K with the SEC, in which it announced “[o]n August 30, 2024, the Board of Directors of Flux Power Holdings, Inc. (the “Company”) including its audit committee members, concluded that the previously issued audited consolidated financial statements as of and for the fiscal year ended June 30, 2023 and the unaudited consolidated financial statements as of and for the quarters ended September 30, 2023, December 31, 2023, and March 31, 2024 (collectively, the “Prior Financial Statements”), which were filed with the Securities and Exchange Commission (“SEC”) on September 21, 2023, November 9, 2023, February 8, 2024 and May 13, 2024, respectively, should no longer be relied upon because of errors in such financial statements relating to the improper accounting for inventory and a restatement should be undertaken.”
On this news, Flux Power’s common stock fell $0.17 per share, or 5.36%, to close at $3.00 per share on September 6, 2024. The next trading day, it fell a further $0.12 per share, or 4%, to close at $2.88 per share on September 9, 2024.
Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
case@rosenlegal.com
www.rosenlegal.com
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