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GPM Announces the Filing of a Securities Class Action on Behalf of Whole Foods Market, Inc. Investors

September 22, 2015 11:31 AM EDT

LOS ANGELES--(BUSINESS WIRE)-- Glancy Prongay & Murray LLP (“GPM”) announces that a class action has been filed on behalf of investors of Whole Foods Market, Inc. (“Whole Foods” or the “Company”) (NASDAQ: WFM) who purchased shares between August 9, 2013 and July 30, 2015 inclusive (the “Class Period”). Whole Foods investors have until October 5, 2015 to file a lead plaintiff motion. If you have suffered losses of over $100,000 on your investment in Whole Foods you are encouraged to contact GPM to discuss your legal rights.

On July 29, 2015, after the close of trading, the organic grocer released lower-than-expected quarterly earnings and fourth-quarter guidance, which the company attributed in part to the New York City Department of Consumer Affairs’ allegations that accuses the Company of a long running scheme to defraud Whole Foods shoppers through mislabeling product weights. On this news, the company's shares fell $4.74 per share, or nearly 12%, to close on July 30, 2015 at $36.08 per share. The Complaint alleges that Whole Foods misled investors by failing to adequately disclose that (i) the Company routinely overstated the weight of its pre-packaged products and overcharged customers; and (ii) as a result of the foregoing, Defendants’ statements about Whole Foods’ business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

If you purchased shares of Whole Foods during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Casey Sadler, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Glancy Prongay & Murray, Los Angeles
Casey Sadler, 310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com

Source: Glancy Prongay & Murray LLP



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