INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Floor & Decor Holdin...
June 07 2019 - 7:10PM
Business Wire
The law firm of Kirby McInerney LLP announces that a class
action lawsuit has been filed in the U.S. District Court for the
Northern District of Georgia on behalf of those who acquired Floor
& Decor Holdings, Inc. (“Floor & Decor” or the “Company”)
(NYSE: FND) securities during the period from May 23, 2018 to
August 1, 2018 (the “Class Period”). Investors have until July 19,
2019 to apply to the Court to be appointed as lead plaintiff in the
lawsuit.
The lawsuit alleges that Floor & Decor failed to disclose to
investors that: (i) prior to the May 24, 2018 Secondary Offering,
the Company had begun to experience declining sales trends; and
(ii) as a result, the Company was likely to reduce its fiscal 2018
sales and adjusted EPS guidance, which had been increased as
recently as May 2018.
On August 2, 2018, the Company reported lower-than-expected
revenue for second quarter 2018 and reduced its sales and earnings
per share guidance for fiscal year 2018, citing sales shift to
lower margin products such as laminate flooring. On this news,
Floor & Decor’s share price fell $8.18, approximately 17.1%, to
close at $39.53 on August 2, 2018.
If you acquired Floor & Decor securities during the Class
Period, have information, or would like to learn more about these
claims, please contact Thomas W. Elrod of Kirby McInerney at
212-371-6600, by email at investigations@kmllp.com, or by filling
out this contact form, to discuss your rights or interests with
respect to these matters without any cost to you.
Kirby McInerney is a New York-based plaintiffs’ law firm
concentrating in securities, antitrust, and whistleblower
litigation. The firm’s efforts on behalf of shareholders in
securities litigation have resulted in recoveries totaling billions
of dollars. Additional information about the firm can be found at
Kirby McInerney’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20190607005503/en/
Kirby McInerney LLPThomas W. Elrod, Esq., (212)
371-6600investigations@kmllp.comwww.kmllp.com
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