Zamansky LLC announces its investigation of Whole Foods Market Inc. (“Whole Foods”) (NASDAQ: WFM) and the Whole Foods Market Group Growing Your Future 401(k) Plan for possible violations of the federal Employment Retirement Securities Act (“ERISA”). ERISA imposes fiduciary duties to prudently manage and invest the assets of the Plan. These duties were potentially violated by Whole Foods’ continued offering of its company stock while it allegedly knew that the stock price was artificially inflated.

On June 25, 2015 the New York City Department of Consumer Affairs (“NYCDCA”) announced that it had uncovered “systematic overcharging” for pre-packaged food at eight Whole Foods’ locations. The NYCDCA accused Whole Foods of thousands of potential overcharging violations. In an earning call in late July, Whole Foods acknowledged that the NYCDCA charges had impacted earnings as well as the company’s national reputation. In response, Whole Foods’ stock price has suffered a decline of more than 11%.

On August 6, 2015, a class action lawsuit was filed against Whole Foods in the U.S. District Court, Western District of Texas, No. 15-CV-681, alleging securities fraud. The complaint alleges that Whole Foods made material misrepresentations to investors which artificially inflated its stock price.

According to employee stock fraud attorney, Jake Zamansky, Whole Foods’ existing and former employees who purchased and held company stock through its 401(k) Plan since at least August 9, 2013, have suffered damage and losses to their retirement savings. The allegations about securities fraud by Whole Foods in its public disclosures raise serious issues for the Whole Foods employees who held company stock under the Plan over the prudent monitoring and oversight by the Plan’s fiduciaries under ERISA for artificial inflation of the stock price, he states.

What Whole Foods’ Employees or Former Employees Can Do

If you are an existing or former Whole Foods’ employee who purchased or held company stock through the Growing Your Future 401(k) Plan, please contact our firm for an evaluation of your rights. You can contact Jake Zamansky by telephone at (212) 742-1414 or by email at jake@zamansky.com.

About Zamansky LLC

Zamansky LLC is a leading stock law firm specializing in securities fraud, ERISA and employment class actions. We are investment fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.

To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com.