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Investor Class Action Filed Against Flex Ltd. for Securities Fraud Violations
Company Name: Flex Ltd.
Court: United States District Court for the Northern District of California
Case Number: 18-cv-02706
Judge: The Hon. Lucy Haeran Koh
Class period: Between February 15, 2017 and October 25, 2018
Security Type: Common stock

Case Background:

On May 8, 2018, the initial complaint in this securities class action was filed against Flex Ltd. (“Flex” or the “Company”), and certain of Flex’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act.  

The complaint alleged that the defendants made a series of misrepresentations concerning the status and profitability of its Nike contract, in which the defendants misled investors concerning the contract’s ability to breakeven at the end of fiscal year 2018 and subsequently, following the failure to breakeven, that the contract would get to profitability in the second half of fiscal year 2019.  The complaint further alleged that the defendants intentionally omitting crucial details about the problems the Company was experiencing at the Guadalajara factory and that the project was not on the linear track to profitability.

This securities class action lawsuit was brought on behalf of all persons and entities who purchased publicly traded common stock of Flex during the period from February 15, 2017 to October 25, 2018, inclusive.

Current Status of Case:

On May 29, 2020, the Court issued an Order granting the defendants' motion to dismiss the operative complaint. The lead plaintiff was given leave to amend the complaint. On June 29, 2020, the lead plaintiff filed an Amended Consolidated Class Action Complaint. The defendants filed their Motion to Dismiss the Amended Consolidated Class Action Complaint on July 27, 2020.  The motion to dismiss is fully briefed by the parties, pending the Court’s decision.  This action is still ongoing. 

If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-844-887-9500 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com

Please complete this form and list your purchase and/or sale transaction(s) for Flex Ltd. (Nasdaq: FLEX) common stock between February 15, 2017 and October 25, 2018, both dates inclusive (the “Class Period”):

You may also contact James Maro, Jr., Esq. or Adrienne Bell, Esq. at 610.667.7706 or toll free at 844.887.9500, or you may submit your information via email at info@ktmc.com, or you may click here to print a PDF of this form.

* Denotes required field
 
 
 
 
 
 
# of Shares
Price per Share
 
 
 
Principal Amount
Amount Paid
Series or CUSIP
 
 
 
# of Contracts
Price per Contract
Exercise Price
Expiration Date
Did you purchase shares of Flex Ltd. (2018) prior to the Class Period?
Are you a current or former employee of Flex Ltd. (2018)?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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