LOS ANGELES–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24FND&src=ctag” target=”_blank”gt;$FNDlt;/agt; lt;a href=”https://twitter.com/hashtag/CLASSACTION?src=hash” target=”_blank”gt;#CLASSACTIONlt;/agt;–Glancy
Prongay & Murray LLP (“GPM”), a national investors rights law
firm, announces that a class action lawsuit has been filed on behalf of
investors that acquired Floor & Decor Holdings, Inc. (“Floor & Decor” or
the “Company”) (NYSE: FND)
securities between May 23, 2018 and August 1, 2018, inclusive
(the “Class Period”). Floor & Decor investors have until July 19,
2019 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here
to participate.
If you wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire, at
310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected],
or visit our website at www.glancylaw.com.
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, the Company’s share price fell $8.18, nearly 17%, to close
at $39.53 per share on August 2, 2018, thereby injuring investors.
The complaint filed in this class action alleges that throughout the
Class Period, Defendants made materially false and/or misleading
statements, as well as failed to disclose material adverse facts about
the Company’s business, operations, and prospects. Specifically,
Defendants failed to disclose to investors: (1) that, prior to the May
24, 2018 Secondary Offering, the Company had begun to experience
declining sales trends; (2) that, 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; and (3) that, as a result of the
foregoing, Defendants’ positive statements about the Company’s business,
operations, and prospects were materially misleading and/or lacked a
reasonable basis.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased shares of Floor & Décor during the Class Period you may
move the Court no later than July 19, 2019 to ask the
Court to appoint you as lead plaintiff. To be a member of the Class you
need not take any action at this time; you may retain counsel of your
choice or take no action and remain an absent member of the Class. If
you wish to learn more about this action, or if you have any questions
concerning this announcement or your rights or interests with respect to
these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925
Century Park East, Suite 2100, Los Angeles, California 90067 at
310-201-9150, Toll-Free at 888-773-9224, by email to [email protected],
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Contacts
Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy,
310-201-9150 or 888-773-9224
www.glancylaw.com
[email protected]
