According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- Flux Power’s financial statements from November 10, 2022 to the present included, among other things, overstated inventory, gross profit, current assets, and total assets;
- Flux Power understated cost of sales and net loss;
- as a result, Flux Power would need to restate its previously filed financial statements from November 10, 2022 to the present;
- Flux Power understated internal control weaknesses or stated that it had adequate internal controls when in fact it did not; and
- as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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