Levi & Korsinsky Investigates Flux Power Holdings, Inc. for Securities Law Violations

September 13, 2024 – New York, NY

Levi & Korsinsky has begun an investigation into Flux Power Holdings, Inc. (NASDAQ:FLUX) for potential breaches of federal securities laws. The investigation was initiated following Flux’s disclosure in a filing with the U.S. Securities and Exchange Commission (SEC) on September 5, 2024.

According to the filing, Flux’s Board of Directors announced that the previously issued audited consolidated financial statements for the fiscal year ended June 30, 2023, as well as the unaudited consolidated financial statements for the quarters ended September 30, 2023, December 31, 2023, and March 31, 2024 (referred to as the ‘Prior Financial Statements’), should no longer be relied upon. The Board cited errors in the financial statements related to incorrect inventory accounting and stated that a restatement would be necessary.

Effects on Investors

Investors in Flux Power Holdings, Inc. may experience uncertainty and potential financial losses as a result of the restatement of the Prior Financial Statements. The investigation by Levi & Korsinsky could lead to further developments that impact shareholders and their investment in the company.

Effects on the World

The investigation into Flux Power Holdings, Inc. could have broader implications for the financial industry and regulatory oversight. Instances of financial mismanagement or inaccurate reporting can erode investor confidence and raise concerns about corporate governance practices.

Conclusion

As the investigation into Flux Power Holdings, Inc. unfolds, it is crucial for investors to stay informed and consider their options moving forward. The potential violations of federal securities laws highlight the importance of transparency and accuracy in financial reporting, both for individual investors and the broader market.