Case Page

 

Case Status:    DISMISSED    
On or around 06/15/2015 (Notice of voluntarily dismissal)

Filing Date: June 11, 2014

According to the law firm press release, 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 the 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; and 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 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.

On September 22, 2014, the Court issued an Order appointing lead plaintiffs and approving the selection of lead counsel. Lead Plaintiffs filed a consolidated complaint on October 22.

On April 16, 2015, the Court issued an Order granting defendants' motion to dismiss with leave to amend.

Lead Plaintiffs decided to voluntarily dismiss this action on June 15, 2015.

COMPANY INFORMATION:

Sector: Consumer Non-Cyclical
Industry: Food Processing
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: BNNY
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 14-CV-02711
JUDGE: Hon. Beth Labson Freeman
DATE FILED: 06/11/2014
CLASS PERIOD START: 08/08/2013
CLASS PERIOD END: 06/03/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Binkow & Goldberg LLP (Los Angeles)
    1801 Ave. of the Stars, Suite 311, Glancy Binkow & Goldberg LLP (Los Angeles), CA 90067
    310.201.915 310. 201-916 · info@glancylaw.com
  2. Law Offices of Howard G. Smith
    3070 Bristol Pike, Suite 112, Law Offices of Howard G. Smith, PA 19020
    215.638.4847 215.638.4867 ·
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 14-CV-02711
JUDGE: Hon. Beth Labson Freeman
DATE FILED: 10/22/2014
CLASS PERIOD START: 06/10/2013
CLASS PERIOD END: 06/03/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky LLP (DC)
    1101 30th Street, NW; Suite 115, Levi & Korsinsky LLP (DC), DC 20007
    ·
  2. The Rosen Law Firm, P.A. (New Los Angeles)
    355 South Grand Ave, Suite 2450, The Rosen Law Firm, P.A. (New Los Angeles), CA 90071
    (213) 785-2610 (213) 226-4684 ·
No Document Title Filing Date