Investigation announced for Investors in shares of Flux Power Holdings, Inc. (NASDAQ: FLUX) over possible Violations of Securities Laws

An investigation was announced concerning possible securities laws violations by Flux Power Holdings, Inc. in connection with certain financial statements.

Investors who purchased shares of Flux Power Holdings, Inc. (NASDAQ: FLUX), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether certain statements by Flux Power Holdings, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Vista, CA based Flux Power Holdings, Inc., through its subsidiary Flux Power, Inc., designs, develops, manufactures, and sells lithium-ion energy storage solutions for lift trucks, airport ground support equipment, and other industrial and commercial applications in the North America. Flux Power Holdings, Inc. reported that its Total Revenue rose from $42.33 million for the 12 months period that ended on June 30, 2022 to $66.33 million for the 12 months period that ended on June 30, 2023, and that its Net Loss over those respective time periods declined from $15.6 million to $6.74 million.

On September 5, 2024, after the market closed, Flux Power Holdings, Inc. filed a current report on Form 8-K with the SEC, in which it announced that "[o]n August 30, 2024, the Board of Directors of Flux Power Holdings, Inc. (the "Company") including its audit committee members, 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 Securities and Exchange Commission ("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."

Shares of Flux Power Holdings, Inc. (NASDAQ: FLUX) declined from $5.86 per share on February 15, 2024, to as low as $2.79 per share on September 11, 2024.

Those who purchased shares of Flux Power Holdings, Inc. (NASDAQ: FLUX) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.