FLOWSERVE INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 Investing In Flowserve Corporation To Contact The Firm

NEW YORK, July 31, 2017 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Flowserve Corporation ("Flowserve" or the "Company") FLS.

The investigation focuses on whether the Company and its executives violated federal securities laws.  Specifically, after market close on July 27, 2017, Flowserve released its financial results for the second quarter ended June 30, 2017.  The Company revealed, among other things, that "certain immaterial accounting errors were identified in prior period financial statements for the period beginning in 2013 through the first quarter of 2017, which occurred primarily at two non-U.S. sites, and principally involved certain inventory and accounts receivable balances" and that it "has determined to amend its 2016 Form 10-K and the March 31, 2017 Form 10-Q to reflect the revisions."  The Company stated further that it "has determined material weakness existed in its internal control structure at year-end 2016 and continued through the end of the 2017 second quarter" and that "the cumulative effect of the changes to retained earnings as of March 31, 2017 was a reduction of approximately $30 million."  

On this news, Flowserve's share price declined significantly, causing harm to investors.

If you invested in Flowserve stock or options and would like to discuss your legal rights, click here: www.faruqilaw.com/FLS.  There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  

CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26^th Floor
New York, NY 10017
Attn:  Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330

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SOURCE Faruqi & Faruqi, LLP