INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Floor & Decor Holdings, Inc. Investors (FND)
BENSALEM, Pa.--(BUSINESS WIRE)--May 28, 2019--
Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased 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.
Investors suffering losses on their Floor & Decor investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
On August 2, 2018, the Company reported lower-than-expected revenue for second quarter 2018 and reduced its sales and earnings per share (“EPS”) 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.
If you purchased shares of Floor & Decor, have information, 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190528005797/en/
CONTACT: Law Offices of Howard G. Smith
Howard G. Smith, Esquire
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Law Offices of Howard G. Smith
Copyright Business Wire 2019.
PUB: 05/28/2019 05:44 PM/DISC: 05/28/2019 05:44 PM