Levi & Korsinsky Investigates Flux Power Holdings, Inc.
Investigation of Possible Securities Laws Violations
New York, NY / ACCESSWIRE / September 22, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Flux Power Holdings, Inc. (“Flux Power Holdings, Inc.”) (NASDAQ:FLUX) concerning possible violations of federal securities laws.
On September 5, 2024, in a filing with the U.S. Securities and Exchange Commission (“SEC”), Flux disclosed that its Board of Directors had “concluded that the previously issued audited consolidated financial statements as of and for the fiscal year ended June 30, 2023 and the unaudited consolidated financial statements as of and for the quarters ended September 30, 2023, December 31, 2023, and March 31, 2024 (collectively, the ‘Prior Financial Statements’), which were filed with the SEC on September 21, 2023, November 9, 2023, February 8, 2024, and May 13, 2024, respectively, should no longer be relied upon because of errors in such financial statements relating to the improper accounting for inventory and a restatement should be undertaken.
Potential Impact on Investors
Investors in Flux Power Holdings, Inc. may face uncertainty and potential losses as a result of the investigation into possible violations of federal securities laws. The restatement of financial statements due to accounting errors could lead to decreased investor confidence and volatility in the company’s stock price.
Global Consequences
The investigation of Flux Power Holdings, Inc. by Levi & Korsinsky has the potential to impact the global financial market, as investors and stakeholders around the world may reevaluate their positions in the company. If violations of federal securities laws are confirmed, it could lead to regulatory scrutiny and further consequences for the company on a global scale.
Conclusion
In conclusion, the investigation of Flux Power Holdings, Inc. by Levi & Korsinsky raises concerns about the company’s financial reporting practices and the potential impact on investors and the global financial market. It is important for investors to stay informed and monitor developments in this investigation to make well-informed decisions about their investments.
