SAN DIEGO, June 16, 2014 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of Annies Inc (BNNY) common stock over alleged violations of Federal Securities Laws by Annies Inc in connection with certain allegedly false and misleading statements made between August 8, 2013 and June 3, 2014.
If you purchased shares of Annies Inc (BNNY), you have certain options and for certain investors are short and strict deadlines running. Annies Inc investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that defendants allegedly misrepresented and/or failed to disclose material adverse facts about Annies Inc's operations and financial performance, including that Annies Inc's historical methodology for estimating certain trade allowances did not include all related trade promotion costs, that Annies Inc's controls over accounting for contract manufacturing did not sufficiently evaluate the valuation and accuracy of all contract manufacturing receivables and payables., that Annies Inc had a material weakness in its ability to detect misstatements as a result of its insufficient controls., and that as a result of its inadequate internal and financial controls, Annies Inc's financial statements were materially false and misleading at all relevant times.
Recently Annies Inc announced a filing with the SEC, that "on June 1, 2014, the Audit Committee of the Board of Directors of Annie's Inc was orally informed by its independent registered public accounting firm, PricewaterhouseCoopers LLP ("PwC"), that PwC was resigning effective the earlier of August 11, 2014 or the completion of the Company's filing with the Securities and Exchange Commission of the Form 10-Q for the period ending June 30, 2014." Annies Inc also disclosed that that there was "material weakness in internal control over financial reporting" for the fiscal year ended March 31, 2014.
The plaintiff seeks to recover damages on behalf of all purchasers of Annies Inc common shares between August 8, 2013 and June 3, 2014.
Those who purchased shares of Annies Inc (BNNY) have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.