Sign In  |  Register  |  About San Rafael  |  Contact Us

San Rafael, CA
September 01, 2020 1:37pm
7-Day Forecast | Traffic
  • Search Hotels in San Rafael

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Securities Class Action Filed Against Floor & Decor Holdings, Inc.; The Law Offices of Timothy L. Miles Encourages Shareholder to Contact the Firm

HENDERSONVILLE, TN / ACCESSWIRE / May 24, 2019 / The Law Offices of Timothy L. Miles informs investors there has been a class action lawsuit filed against Holdings, Inc. ("Floor & Decor" or the "Company") (NYSE: FND) and certain of its officers accusing the Company of making materially false and misleading statements in a secondary offering of 10 million shares of its common stock at $44.77 per share (the "May 24 Secondary Offering"). The complaint asserts alleged violations of the Securities and Exchange Act of 1934 between May 23, 2018 and August 1, 2018. Floor & Decor describes itself as a high-growth differentiated multi-channel specialty retailer of hard surface flooring and related accessories, with warehouse-format stores across 21 states.

According to the complaint, Floor & Decor's May 24 Secondary Offering documents included false and misleading statements. Specifically, the complaint alleges that the defendants knew but failed to disclose that the company had already begun to experience declining sales trends that would ultimately result in the reduction of its fiscal 2018 sales and adjusted earnings per share guidance, which the company publicly increased in May 2018. While the company's stock was artificially inflated, insiders sold more than 10.3 million shares of Floor & Decor common stock, including shares sold in the May 24 Secondary Offering.

On August 2, 2018, Floor & Decor revealed its 2018 second quarter financial results. The company reported a lower than expected revenue and thus lowered its full year guidance for revenue, comparable-store sales growth, and adjusted earnings per share. Following this news, Floor & Decor stock dropped 17% to close at $39.53 per share on August 2, 2018.

If you purchased Floor & Decor securities, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Timothy L. Miles, Esquire, at 615-587-7384, Toll-Free at 855-846-6529, or by email to tmiles@timmileslaw.com. If you inquire by email please include your mailing address, telephone number, and the number of shares purchased.

About Timothy L. Miles

Timothy L. Miles has dedicated his career to representing shareholders in complex class-action litigation and has lead the fight to protect shareholder rights for over 18 years. Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV® Preeminent™ Rating by Martindale-Hubble® (2014-2019); PRR AV Preeminent Rating on Lawyers.com (2017 & 2019); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale Hubble® 2015); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for 2017 & 2018 (Avvo); America's Most Honored Professionals 2018 - Top 1% (The American Registry 2016-2018).

Contact:

Timothy L. Miles, Esq.
Law Offices of Timothy L. Miles
124 Shiloh Ridge
Hendersonville, TN 37075
Telephone: (855-846-6529)
Email: tmiles@timmileslaw.com Website: www.timmileslaw.com

SOURCE: The Law Offices of Timothy L. Miles



View source version on accesswire.com:
https://www.accesswire.com/546491/Securities-Class-Action-Filed-Against-Floor-Decor-Holdings-Inc-The-Law-Offices-of-Timothy-L-Miles-Encourages-Shareholder-to-Contact-the-Firm

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 SanRafael.com & California Media Partners, LLC. All rights reserved.