Flex Ltd. (FLEX) Accused of Improperly Accounting for Obligations in a Customer Contract

According to the complaint, Flex Ltd. (FLEX) issued a series of public filings emphasizing that the company was focused on generating sustainable free cash flow and consistently returning value to its shareholders. Flex also reported impressive revenue performance and net sales and noted that there were no issues with the company's internal control over financial reporting. However, on April 26, 2018, Flex disclosed that the company's Audit Committee was investigating allegations by an employee that the company improperly accounted for obligations in a customer contract and certain related reserves. Flex further admitted that it did not yet know the impact the investigation would have on its historic, fourth quarter and fiscal year results. On this news, Flex's stock fell over 21% to close at $13.03 per share on April 27, 2018.

Flex Ltd. (FLEX) Shareholders Have Legal Options

Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Lauren Levi, at Llevi@robbinsllp.com or send us a message via the Shareholder Information form below.