New Orleans / LA. (ksf) Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick + Foti LLC (KSF), announces that KSF has commenced an investigation into Flowers Foods Incorporated. In August 2016, the Company disclosed that it was under review by the U.S. Department of Labor (DOL) for violations of the Fair Labor Standards Act. The investigation reportedly involves the Company mischaracterizing distributors employed by it as independent contractors resulting in the loss of overtime pay and other benefits. The Company’s actions, directed by its executives, have exposed it to numerous lawsuits filed by the distributors, one of which was settled for USD 9 million, as well as the cost of defending the Company against the DOL investigation and potential liability for penalties, fines, and repayment of back wages and benefits that could reportedly reach USD 1 billion. The Company has also been sued in a securities class action lawsuit for failing to disclose material information, violating federal securities laws. Recently, the court in that case partially denied the Company’s motion to dismiss, allowing the case to move forward. KSF’s investigation is focusing on whether Flowers’ officers and/or directors breached their fiduciary duties to Flowers’ shareholders or otherwise violated state or federal laws.
OTHER TOPICS FROM THIS SECTION FOR YOU:
- Cloetta AB: announces Q2-2024 interim report
- Axfood AB: Reports Q2-2024 Financial Results
- Chef Robotics: Launches AI-Powered Food Robot
- Conagra Brands: Reports Fourth Quarter 2024 Results
- Limerston Capital sells Village Bakery to Groupe Menissez
- GrubMarket: Buys Major Foodservice Company in Texas
- Lantmännen acquires Entrack AB
- DPC Dash: Concludes H1-2024 with Sustained Expansion
- Norway: Orkla Food Ingredients acquires FDE
- Fondo Italiano d’Investimento co-invests in Casa della Piada
- Greggs: invests in a new frozen manufacturing and logistics site
- Bundeskartellamt imposes fine against «Fritz!» manufacturer AVM
- Yum China: Celebrates Opening of its 200th KCoffee Store
- Beijing intends to roll out 5’400 food production robots
- K-Citymarket: sees significant sales growth in Finland
- DPC Dash: reaches 900-store milestone in China
- Coffee Holding: Terminates Merger with Delta Corp Holdings
- Perkins Restaurant + Bakery: introduces new brand identity
- Engelmans Bakery: acquires St. Armands Baking Company
- National DCP: Breaks Ground on New Distribution Center