NEW YORK, NY / ACCESSWIRE / July 17, 2019 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against of Floor & Decor Holdings, Inc. (“Floor & Decor” or the “Company”) (NYSE: FND) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Floor & Decor securities between May 23, 2018 and August 1, 2018, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/fnd.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Floor & Decor’s May 24, 2018 Secondary Offering documents included false and misleading statements. Specifically, the complaint alleges that the 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 the company publicly increased in May 2018. While the company’s stock was artificially inflated, insiders sold more than 10.3 million shares of Floor & Decor common stock, including shares sold in the May 24, 2018 Secondary Offering.
On August 2, 2018, Floor & Decor revealed its 2018 second quarter financial results. The company reported a lower than expected revenue and thus lowered its full year guidance for revenue, comparable-store sales growth, and adjusted earnings per share. Following this news, Floor & Decor stock dropped 17% to close at $39.53 per share on August 2, 2018.
If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/fnd or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Floor & Decoryou have until July 19, 2019 to request that the Court appoint you as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC