An investor in NASDAQ:SNAK shares filed a lawsuit against Inventure Foods Inc over alleged Securities Laws violations in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Inventure Foods Inc (NASDAQ:SNAK) have certain options and for certain investors are short and strict deadlines running. Deadline: May 29, 2017. NASDAQ:SNAK investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff claims that between March 3, 2016, and March 16, 2017, the Defendants failed to disclose: (1) that the Company lacked adequate internal controls over accounting and financial reporting; (2) that, as a result, the Company’s statements of operations in its fiscal year 2015 results press release contained incorrect figures; and (3) that, as a result of the foregoing, Defendants’ statements about Inventure Foods’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On March 9, 2017, Inventure Foods Inc disclosed that it would not be able to timely file its annual report on Form 10-K for its fiscal year ended December 31, 2016 and that it expected to file a notification of late filing on Form 12b-25 with the SEC to obtain a 15-day extension of the filing deadline for the Form 10-K. Inventure Foods Inc claimed it needed additional time to complete certain intangible asset and goodwill impairment tests, and that, as a result, the Company’s independent registered public accounting firm had not completed its audit of the Company’s financial statements and the assessment of the Company’s internal control over financial reporting.
On March 16, 2017 Inventure Foods Inc filed a notice of late filing with the SEC disclosing that the Company would not file its fiscal year 2016 annual report on time. Inventure Foods Inc further disclosed that it anticipates that its statements of operations contained in the annual report “will differ materially” from those reported for its fourth quarter and fiscal year 2015.” Shares of Inventure Foods Inc (NASDAQ:SNAK) declined on March 30, 2017 to a slow as $3.69 per share.
Those who purchased NASDAQ:SNAK shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com