Employees’ Retirement System of the State of Hawaii v. Whole Foods Market

Whole Foods gets caught selling prepackaged food that included the weight of the package in the total price of the food—and thus charging consumers for more than they received. Allegation: Executives lied to investors during this scandal, artificially inflating the price of the company’s stock. Fifth Circuit: “Just because Whole Foods’ prices were not as competitive as advertised, it need not follow that they were not competitive.” No securities violations here.

Tags: 2018, Corporate Law, Fifth Circuit, Securities Law

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