Flux Power Holdings (FLUX) Misstatement of Financial Controls Case

D. Nevada

Court

2:24-cv-02051

Case number

11/11/2022

Class period Start

09/30/2024

Class period End

12/31/2024

Lead Plaintiff motion deadline

$FLUX shareholders filed a claim against Flux Power for failing to properly report its financial controls and exaggerating its assets.
Following the disclosure on September 5, 2024, $FLUX fell by over 5%.
$FLUX investors can join this case to be notified about potential recovery.
Case Details

On September 5, 2024, Flux Power disclosed significant errors in past financial reports, including $1.2 million in outdated inventory that was incorrectly recorded and other misclassified items.

Flux Power acknowledged its financial controls were ineffective and announced plans to restate previous reports, citing a lack of resources to maintain accurate accounting.

On October 1, 2024, after failing to meet deadlines for filing the revised financial statements, $FLUX fell by nearly 6%, raising concerns that its ongoing financial control issues could jeopardize its NASDAQ listing.

Based on these events, $FLUX shareholders filed a claim against Flux Power, accusing it of:
That the company hid significant weaknesses in its financial control processes.
That the company overstated inventory, gross profits, and assets in its financial reports.
That the company misled investors about its financial stability.
Investors believe Flux Power failed to accurately report its financial controls and inflated its assets.

Case Status

Lead Plaintiff Submission

Alleged Offence

Mismanagement,

Misleading Statements,

Financial Misrepresentation,

Failure to Disclose

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

09/05/2024

Filing date

11/01/2024

Lead Plaintiff Deadline

12/31/2024

Judge

Cristina D. Silva

Flux Power Holdings (FLUX) Misstatement of Financial Controls Case

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