The Traderszone Network

Published in TZ Latest News 7 August, 2015 by The TZ Newswire Staff

Whole Foods overpricing led to securities fraud -U.S. lawsuit

A Whole Foods Market Inc shareholder has accused the grocer in a lawsuit of committing securities fraud by concealing its overcharging of New York City customers, leading to bad publicity that hurt sales and drove its share price down. In a complaint filed on Thursday in federal court in Austin, Texas, the plaintiff Yochanan Markman said Whole Foods knew or recklessly disregarded that it routinely overstated the weight of pre-packaged products, causing the overcharging. Whole Foods specializes in natural and organic goods.