LOS ANGELES–(BUSINESS WIRE)–$FND #CLASSACTION—Glancy
Prongay & Murray LLP (“GPM”) reminds investors of the upcoming July
19, 2019 deadline to file a lead plaintiff motion in the class
action filed on behalf of Floor & Decor Holdings, Inc. (“Floor & Decor”
or the “Company”) (NYSE: FND)
investors who purchased securities between May 23, 2018 and
August 1, 2018, inclusive (the “Class Period”).
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.
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If you purchased or otherwise acquired Floor & Decor securities during
the Class Period you may move the Court no later than July 19,
2019 to request appointment as lead plaintiff in this putative class
action lawsuit. To be a member of the class action 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 action. If you wish
to learn more about this class action, or if you have any questions
concerning this announcement or your rights or interests with respect to
the pending class action lawsuit, 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 & Murray LLP, Los Angeles
Lesley Portnoy,
310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com
