NEW YORK, May 12, 2017 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Inventure Foods, Inc. ("Inventure Foods" or the "Company") (NASDAQ: SNAK) of the May 30, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the District of Arizona on behalf of all those who purchased Inventure Foods securities between March 3, 2016 and March 16, 2017 (the "Class Period"). The case, Schoenfeld v. Inventure Foods Incorporated et al, No. 2:17-cv-00910 was filed on March 27, 2017, and has been assigned to Judge Hezekiah Russel Holland.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the Company lacked adequate internal controls over accounting and financial reporting; (2) consequently, the Company's statements of operations in its fiscal year 2015 results contained incorrect figures; and (3) as a result, the Company's statements about its business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
Specifically, on March 16, 2017, the Company filed a Form 12b-25 with the Securities and Exchange Commission. Therein, the Company disclosed that it anticipated that the Company's statements of operations contained in its 2016 annual report would differ materially from those reported for its fourth quarter and fiscal year 2015.
As a result of this news, over the next several trading days shares of Inventure Foods significantly declined, causing harm to investors.
Request more information now by clicking here: www.faruqilaw.com/SNAK . There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Inventure Foods' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
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SOURCE Faruqi & Faruqi, LLP