Glancy
Prongay & Murray LLP (“GPM”)
reminds investors of the upcoming October 5, 2015 deadline to
file a lead plaintiff motion in the class action filed on behalf of a
class (the “Class”) of purchasers of the securities of Whole Foods
Market, Inc. (“Whole Foods” or the “Company”) (NASDAQ:WFM) who purchased
shares between August 9, 2013 and July 30, 2015 inclusive (the “Class
Period”) and have been damaged by the recent declines in the Company’s
stock price.
On July 29, 2015, after the close of trading, the organic grocer
released lower-than-expected quarterly earnings and fourth-quarter
guidance, which the company attributed in part to the New York City
Department of Consumer Affairs’ allegations that accuses the Company of
a long running scheme to defraud Whole Foods shoppers through
mislabeling product weights. On this news, the company's shares fell
$4.74 per share, or nearly 12%, to close on July 30, 2015 at $36.08 per
share.
The Complaint alleges that Whole Foods misled investors by failing to
adequately disclose that (i) the Company routinely overstated the weight
of its pre-packaged products and overcharged customers; and (ii) as a
result of the foregoing, Defendants’ statements about Whole Foods’
business, operations, and prospects were false and misleading and/or
lacked a reasonable basis.
If you purchased shares of Whole Foods during the Class Period, have
information or 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 Lesley Portnoy, of GPM, 1925
Century Park East, Suite 2100, Los Angeles, California 90067 at
310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com,
or visit our website at http://www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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