Annie’s receives securities class action lawsuit

A law firm recently announced that it filed a securities class action lawsuit against a food company after allegations of securities law violations.

Robbins Arroyo, LLP, noted that the litigation was filed in the U.S. District Court for the Northern District of California against Annie's, Inc. This includes all shareholders who acquired interests in the company during the class period between Aug. 8, 2013 and June 3, 2014.

The company allegedly violated the Securities Exchange Act of 1934. Specifically, there were a number of statements that were inaccurate regarding the financial performance of the company related to sales, inventory and the cost of items sold to customers. Annie's leaders noted that it had to make adjustments to financial documents for the 2012 and 2013 year, as well as for the first, second and third quarters of 2013, on June 2, 2014. Its accounting firm PricewaterhouseCoopers, LLP, resigned one day later. On June 4, 2014, the company had its stock drop 8 percent to $30.07 per share.

It is an option for shareholders to speak with the law office to learn more information about how the action could affect their rights and interests. The best person to discuss these matters with is Darnell Donahue, and he can be reached by telephone or email. Furthermore, there are details available on the law firm's website.

Second lawsuit filed
Another litigation firm explained that it filed a class action lawsuit against Annie's for many of the same reasons.

Law office Glancy Binkow and Goldberg, LLP, filed the lawsuit in the aforementioned court, noting the same issues with Annie's financial documents.

Any shareholders who are interested in applying for the lead plaintiff position need to alert the court of this within 60 days of the filing. Those parties who would like to do this will need to be approved by the court. Being a lead plaintiff is not a mandatory action for shareholders, and they still will have the ability to remain absent class members, which would allow them to collect in the event of a financial return.

Shareholders have the ability to discuss related matters with this law firm. The best person available who can be contacted is Michael Goldberg, and he can be reached by telephone, mail or email. The law office's website also provides more information for those interested.