COMPANY |
Floor & Décor Holdings, Inc. |
COURT |
United States District Court for the Northern District of Georgia |
CASE NUMBER |
19-cv-02270 |
JUDGE |
The Honorable Steve C. Jones |
CLASS PERIOD |
May 23, 2018 - August 1, 2018 |
SECURITY TYPE |
Common Stock |
Case Background:
On May 20, 2019, the initial complaint in this securities class action was filed against Floor & Décor Holdings, Inc. (“Floor & Décor” or the “Company”), and certain of Floor and Décor’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act.
The Complaint alleges that during the class period, defendants made false and misleading statements and/or failed to disclose adverse information regarding Floor & Decor’s business and prospects. Specifically, the Complaint alleges that each of the statements in the Registration Statement filed with the SEC regarding the current financial condition of the Company was materially false and misleading because, prior to the May 24 Secondary Offering, 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 had been increased as recently as May 2018.
Current Status of Case:
Lead Plaintiff filed a second amended Complaint on November 12, 2019. Defendants filed a Motion to Dismiss the second amended Complaint on November 21. On September 21, 2020, the Court issued an Order granting Defendants' Motion to Dismiss. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.