Stockholders Sue Inventure Foods in New Securities Lawsuit
by Erin Shaak
Last Updated on May 8, 2018
Schoenfeld v. Inventure Foods Incorporated et al
Filed: March 27, 2017 ◆§ 2:17-cv-00910-HRH
A securities lawsuit has been filed against Inventure Foods and two of its executive officers claiming they published misleading information in their 2015 annual report.
A securities lawsuit has been filed against Inventure Foods, Inc. and two of its executive officers on behalf of anyone who acquired Inventure Food securities between March 3, 2016 and March 16, 2017. The suit claims the defendants published misleading information in their 2015 annual report that artificially inflated the price of the company’s securities. According to the complaint, Inventure released the following statement on March 16, 2017:
“The Company anticipates that its statements of operations contained in the Annual Report will differ materially from those reported for its fourth quarter and fiscal year 2015 in its press release dated and filed with the Securities and Exchange Commission on March 3, 2016.”
Allegedly, stock prices dropped by 2.5% upon the release of this news and continue to decline. The suit claims that stockholders suffered “significant losses and damages” due to the company’s inaccurate financial reporting.
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