Annie’s under investigation for potential securities law violations

A law office recently announced that it is investigating the leaders of a food company after shareholders alleged that it violated securities laws. Depending on the outcome of this process, there may be a securities class action lawsuit filed in the future.

Bronstein, Gewirtz and Grossman, LLC., noted that it will look into the conduct of the leaders of Annie's Inc., due to issues related to the company's finances. Annie's leaders filed Form 8-K with the Securities and Exchange Commission on June 1, 2014, declaring that PricewaterhouseCoopers, LLP, its accounting firm, resigned. This will take effect after it files Form 10-Q on June 30, 2014, or Aug. 11, 2014.

The company also noted that it has financial reporting issues for its fiscal year ending March 31, 2014. This includes its accounting, finance and employee turnover.

When this news went public on June 4, 2014, the company's stock dropped to $30.35 per share, for a decline of $2.25 or 6.9 percent.

It is an option for shareholders who are looking to learn more about the case to speak with the law office, while those who have information that could help the investigation are also encouraged to speak up. Both Eitan Kimelman and Peretz Bronstein are available to be reached by telephone or email. Any shareholders who contact the office by email should leave their telephone number and mailing address.

Second investigation begins
Another law office noted that it will explore the issues surrounding Annie's, in order to better determine if the company violated federal securities laws. This also may develop into a class action lawsuit at a later date.

Law firm Ryan and Maniskas, LLP, noted that the investigation will center around the two aforementioned issues related to SEC filings. The first had the company's stock decline to $31.75 per share on June 2, 2014, from the previous level of $32.72 per share on May 30, 2014. The second decline brought the level to $29.84 per share at the time of the press release.

Shareholders also have the ability to contact this law office to learn more about the case and how it may affect them. The best person to speak with is Richard Maniskas, who can be contacted by telephone or email. Additionally, there are further details available on the law office's website.