Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Flex Ltd. (“Flex”) (NASDAQ: FLEX) securities between February 15, 2017 and October 25, 2018, inclusive (the “Class Period”).
The complaint alleges Defendants made a series of misrepresentations concerning the status and profitability of its Nike contract, in which they misled investors concerning the contract’s ability to breakeven at the end of FY 2018. Subsequently, Defendants failed to disclose that, following the failure to breakeven, that the contract would get to profitability in the second half of FY 2019, while 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.
Current Status of Case:
On December 10, 2020, the Court granted Defendants’ Motion to Dismiss. On January 7, 2021, the Lead Plaintiff filed an appeal to the United States Court of Appeals for the Ninth Circuit, and on December 21, 2021, the Court of Appeals for the Ninth Circuit affirmed the District Court’s decision to dismiss the case. This action has concluded.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. 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.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.