NEW YORK–(BUSINESS WIRE)–$FND #classaction–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 [email protected],
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.
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq., (212) 371-6600
[email protected]
www.kmllp.com
