Annie’s, Inc. Officers And Directors May Have Breached Their Fiduciary Duties
Schubert Jonckheer & Kolbe LLP is currently investigating claims on behalf of shareholders of Annie’s, Inc. (“Annie’s” or the “Company”) (NYSE: BNNY). Shareholders are encouraged to contact us by filling out the form at right.
The investigation concerns whether certain of Annie’s officers and directors have breached their fiduciary duties to the Company.
On June 4, 2014, Annie’s announced that the Audit Committee of its Board of Directors was informed by the Company’s accounting firm, PricewaterhouseCoopers LLP (“PwC”) that PwC was resigning as its auditor effective the earlier of August 11, 2014 or the date upon which the Company files with the Securities and Exchange Commission (the “SEC”) its Form 10-Q for the quarter ending June 30, 2014.
Annie’s also disclosed that there was “material weakness in its internal control over financial reporting” for the fiscal year ended March 31, 2014, specifically related to “an insufficient complement of finance and accounting resources, including employee turnover, within the organization 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.”