Sunday, June 23, 2024
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Sanmina Corporation (SANM) is facing scrutiny from investors and a law firm after the company revealed accounting discrepancies in its financial statements. Holzer & Holzer, LLC, a securities litigation firm, is investigating whether Sanmina complied with federal securities laws in light of these recent disclosures.

On May 11, 2023, Sanmina announced a significant development that raised concerns about the accuracy of its past financial reporting. The company stated that its Audit Committee concluded that the financial statements for several fiscal periods “should no longer be relied upon.” These affected periods included annual reports for fiscal years ending October 3, 2020, October 2, 2021, and October 1, 2022, along with quarterly reports for the corresponding periods and the first quarter of 2023. This disclosure caused a decline in the price of Sanmina’s stock, potentially causing significant losses for investors.

Holzer & Holzer, LLC is now investigating the potential that Sanmina’s accounting issues may constitute a violation of federal securities laws. These laws are designed to protect investors by ensuring companies provide accurate and complete financial information. If a company misrepresents its financial health, it can mislead investors and lead to them making poor investment decisions.

The investigation by Holzer & Holzer focuses on determining whether Sanmina’s accounting errors were intentional or the result of negligence. If the firm finds evidence of wrongdoing, it may pursue legal action against Sanmina on behalf of investors who suffered losses.

Investors who purchased Sanmina stock and experienced financial losses are encouraged to contact Holzer & Holzer, LLC to discuss their legal rights. The firm emphasizes its experience in representing shareholders and investors in similar cases and its track record of recovering funds for those harmed by corporate misconduct.

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