Cases
Flowers Foods, Inc. (FLO)
Securities Class Action
Overview
Overview
- Date:
- 6/12/2018
- Company Name:
- Flowers Foods, Inc.
- Stock Symbol:
- FLO
- Status:
- Closed/Complete
NEW YORK, June 12, 2018 – Bragar Eagel & Squire, P.C. is investigating potential claims against certain officers and directors of Flowers Foods, Inc. (NYSE: FLO). Flowers produces and markets baked goods across the United States.
In August 2016, investors in Flower Foods’ brought a class action complaint against the Company in federal court, alleging that between February 7, 2013 and August 10, 2016, Flowers misclassified certain employees as independent contractors, thereby exposing the Company to potential risk. In August 2016, The U.S. Department of Labor notified Flowers that it was scheduled for a review of its compliance with the Fair Labor Standards Act (“FLSA”). If Flowers is found to be in violation of the FLSA, the Company could face up to one billion dollars in fines and back pay. On March 23, 2018, a federal judge denied part of Flowers’ motion to dismiss the complaint, thereby allowing the case to proceed.
Bragar Eagel & Squire’s investigation focuses on whether Flowers' officers and/or directors breached their fiduciary duties to Flowers' shareholders or otherwise violated state or federal laws.
If you are a long-term shareholder of Flowers, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
In August 2016, investors in Flower Foods’ brought a class action complaint against the Company in federal court, alleging that between February 7, 2013 and August 10, 2016, Flowers misclassified certain employees as independent contractors, thereby exposing the Company to potential risk. In August 2016, The U.S. Department of Labor notified Flowers that it was scheduled for a review of its compliance with the Fair Labor Standards Act (“FLSA”). If Flowers is found to be in violation of the FLSA, the Company could face up to one billion dollars in fines and back pay. On March 23, 2018, a federal judge denied part of Flowers’ motion to dismiss the complaint, thereby allowing the case to proceed.
Bragar Eagel & Squire’s investigation focuses on whether Flowers' officers and/or directors breached their fiduciary duties to Flowers' shareholders or otherwise violated state or federal laws.
If you are a long-term shareholder of Flowers, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.