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Important Update for Investors in Flux Power Holdings, Inc.
New York, New York–(Newsfile Corp. – December 27, 2024) – The Rosen Law Firm, a prominent global law firm focusing on investor rights, is reminding individuals who purchased securities in Flux Power Holdings, Inc. (NASDAQ: FLUX) between November 11, 2022, and September 30, 2024, that the deadline to become a lead plaintiff in a securities class action is approaching on December 31, 2024.
Investor Rights and Class Action Details
If you acquired Flux Power securities during the specified Class Period, you may have a right to compensation without incurring any out-of-pocket expenses, thanks to a contingency fee structure. This means that the legal costs are covered, enabling investors to pursue justice with no upfront financial commitment.
Steps for Potential Participants
To participate in the Flux Power class action, interested individuals can visit this link, call Phillip Kim, Esq. toll-free at 866-767-3653, or contact via email at case@rosenlegal.com. It is crucial for those wishing to act as lead plaintiffs to file their motion with the court by December 31, 2024. The role of a lead plaintiff is to represent the interests of all class members throughout the litigation process.
The Importance of Selecting Competent Legal Counsel
The Rosen Law Firm emphasizes the need for investors to choose legal representation that has a proven record of success in securities class actions. Many firms that issue notices may lack the necessary experience and resources, often acting merely as intermediaries who refer clients rather than actually litigating cases. The Rosen Law Firm has garnered recognition for its robust advocacy in this area, successfully recovering significant amounts for investors over the years. The firm boasts a notable history, including achieving the largest settlement ever against a Chinese company during its time and consistently ranking among the top firms in securities class action settlements.
Allegations in the Lawsuit
The legal proceedings allege that during the Class Period, Flux Power Holdings made several materially false statements and omitted critical information, including:
- Inflation of key financial metrics such as inventory, gross profit, and total assets;
- Underreporting of costs and resulting net losses;
- The need for a restatement of previously issued financial statements;
- Misrepresentation of internal controls over financial reporting;
This misinformation, according to the lawsuit, led to substantial financial damages for investors once the reality of the company’s financial health became clear in the market.
Additional Considerations
As a reminder, no class has been officially certified as of now. Until certification occurs, individuals are not represented by legal counsel unless they choose to retain one. Investors have the option to either engage counsel of their choice or remain passive class members without any action required at this moment. It is also essential to note that participation as a lead plaintiff does not influence one’s ability to benefit from potential recoveries in the future.
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