TMCnet News

INVESTOR ALERT: Glancy Binkow & Goldberg LLP Reminds Investors of the Lead Plaintiff Deadline in the Class Action Lawsuit Against Annie's, Inc.
[July 29, 2014]

INVESTOR ALERT: Glancy Binkow & Goldberg LLP Reminds Investors of the Lead Plaintiff Deadline in the Class Action Lawsuit Against Annie's, Inc.


LOS ANGELES --(Business Wire)--

Glancy Binkow & Goldberg LLP reminds investors of Annie's, Inc. (the "Company") (NYSE:BNNY) that all purchasers of the Company's securities between August 8, 2013 and June 3, 2014, inclusive (the "Class Period"), have until August 11, 2014, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit.

Annie's, Inc. produces, markets and distributes natural and organic food products, including meals, snacks, dressings, condiments and other products. The Complaint alleges that defendants misrepresented and/or failed to disclose material adverse facts about the Company's operations and financial performance, including that:

  • The Company's historical methodology for estimating certain trade allowances did not include all related trade promotion costs.
  • The Company's controls over accounting for contract manufacturing did not sufficiently evaluate te valuation and accuracy of all contract manufacturing receivables and payables.
  • The Company had a material weakness in its ability to detect misstatements as a result of its insufficient controls.
  • As a result of its inadequate internal and financial controls, the Company's financial statements were materially false and misleading at all relevant times.



On June 2, 2014, Annie's, Inc. disclosed that the Company had identified a material weakness in its internal control over financial reporting that was not effective as of March 31, 2014. According to the Company, the material weakness related to "an insufficient complement of finance and accounting resources…resulting in design deficiencies in certain areas in which our controls were not precise enough to detect misstatements that in the aggregate could be material to the consolidated financial statements." Then, on June 3, 2014, after the market close, Annie's announced that its independent registered public accounting firm, PricewaterhouseCoopers (News - Alert) LLP, was resigning effective the earlier of August 11, 2014, or the completion of the Company's filing with the SEC of the Form 10-Q for the period ending June 30, 2014.

If you are a member of the Class described above, you may move the Court no later than August 11, 2014, to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Casey Sadler, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888) 773-9224, by e-mail 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.


[ Back To TMCnet.com's Homepage ]