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Shareholder Class Action Filed Against Flowers Foods, Inc.

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired shares of Flowers Foods, Inc. (NYSE: FLO) (“Flowers Foods” or the “Company”) between February 7, 2013, and August 10, 2016, inclusive (the “Class Period”).
 

Flowers Foods investors may receive additional information about the case by clicking the link "Join this Class Action" above. 

According to the complaint, Flowers Foods is a food company that operates two business segments: a directstore-delivery segment (“DSD Segment”) and a warehouse delivery segment (“WarehouseSegment”). The DSD Segment operates 39 bakeries that market a wide variety of fresh bakery foods, including fresh breads, buns, rolls, tortillas, and snack cakes.

The complaint alleges that the defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company was improperly classifying employees as independent contractors; (2) that the misclassification exposed the Company to legal liability and/or negative regulatory action; (3) that proper classification would have a negative impact on the Company’s operations; and (4) that, as a result of the foregoing, Defendants’ statements about Flowers Foods’ business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On August 10, 2016, Flowers Foods disclosed in a Current Report filed with the SEC that the U.S. Department of Labor notified Flowers Foods that the Company was scheduled for a compliance review under the Fair Labor Standards Act. The Company further stated that it intended to cooperate with the Department, and that because the review process was confidential, Flowers Foods would not comment further at that time. On this news, Flowers Foods’ stock price fell $1.60 per share, or 9%, to close at $16.15 per share on August 10, 2016, on unusually heavy trading volume.

Also on August 10, 2016, after the market closed, the Company issued a press release announcing Q2 2016 financial results, disappointing financial results for the quarter, and that it was lowering its 2016 guidance.

On this news, Flowers Foods’ stock price fell $1.20 per share, or 7.4%, to close at $14.95 per share on August 11, 2016, on unusually heavy trading volume.

If you are a member of the class described above, you may no later than October 11, 2016, move the Court to serve as lead plaintiff of the class, if you so choose. 


 
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter.  If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@ktmc.com. For more information about Kessler Topaz Meltzer & Check, LLP, please visit our website at http://www.ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com

Please fill out the form and list your purchase and sale transaction(s) in Flowers Foods, Inc. (NYSE: FLO) (“Flowers Foods” or the “Company”) between February 7, 2013, and August 10, 2016, inclusive (the “Class Period”)):

Information Sheet
* Denotes required field
Acquisitions
Date Aquired
Number of Shares Acquired
Acquisition Price Per Share
Sales
Date Sold
Number of Shares Sold
Selling Price Per Share
Did you purchase shares of Flowers Foods, Inc. prior to the class period?
Area you a current or former employee of Flowers Foods, Inc.?
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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