NEW YORK, NY / ACCESSWIRE / July 30, 2015 / Pomerantz LLP is investigating claims on behalf of investors of Whole Foods Markets, Inc. ("Whole Foods" or the "Company") (NASDAQ: WFM). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Whole Foods and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On July 29, 2015, post-market, the organic grocer released lower-than-expected quarterly earnings and fourth-quarter guidance, which the company attributed in part to the news that New York City officials had found that the company was overcharging customers. "There's no magic bullet for restoring whatever trust was lost," co-CEO Walter Robb said during a call with analysts and investors.
On this news, the company's shares have fallen as much as 4.90, or 12%, on intraday trading on July 30, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP