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NEW YORK, Aug. 10, 2015 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Whole Foods Market, Inc. ("Whole Foods") (NASDAQ:WFM) between August 9, 2013 and July 30, 2015.
You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Western District of Texas. If you purchased or otherwise acquired Whole Foods securities between August 9, 2013 and July 30, 2015, your rights may be affected by this action. To get more information go to:
The Complaint alleges that Whole Foods misled investors by failing to adequately disclose that (i) the Company routinely overstated the weight of its pre-packaged products and overcharged customers; and (ii) as a result of the foregoing, Defendants' statements about Whole Foods' business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
On July 29, 2015, Whole Foods announced lower-than-expected quarterly earnings and fourth-quarter guidance, which the company attributed in part to the New York City Department of Consumer Affairs' allegations that accuses the Company of a long running scheme to defraud Whole Foods shoppers through mislabeling product weights. On this news, the company's shares nearly 12%, to close on July 30, 2015 at $36.08 per share.
If you suffered a loss in Whole Foods you have until October 5, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comNEXT ARTICLE