Following the less-than-shocking news that Whole Foods was overcharging customers, shareholders are now suing the supermarket chain for misrepresenting itself on Wall Street. This calls for an asparagus water toast!
According to the Austin-American Statesman, the lawsuit was filed Thursday in Austin and seeks class-action status for all shareholders who bought stock in Whole Foods stock between August 9th, 2013 and July 30th, 2015. The suit claims Whole Foods executives violated SEC laws by overcharging customers, as it misrepresented the company's value. Whole Foods' stock prices have noticeably dropped since the investigation.
Whole Foods has called the lawsuit "baseless," Grub Street reports. The company said it has remained committed "to providing transparent, accurate pricing for all of our customers"... even though executives admitted to overcharging just last month. Come on guys, we all know asparagus water when we see it. Or something.
Lucy Meilus is a staff writer for Thrillist and sold all her Whole Foods stock long ago. Follow her to millions at @Lucymeilus and send news tips to firstname.lastname@example.org.