SAN DIEGO, July 10, 2020 (GLOBE NEWSWIRE) -- Johnson Fistel, LLP is investigating potential claims on behalf of Mohawk Industries, Inc. ("Mohawk" or the "Company") (NYSE: MHK) against certain of its officers and directors.
Recently a class action lawsuit was filed in federal court against the Company on behalf of purchasers of the securities of Mohawk from April 28, 2017 and July 25, 2019 (the "Class Period").
According to the lawsuit, defendants throughout the Class Period made false and misleading statements and failed to disclose that: (1) Mohawk was engaging in fraudulent channel stuffing; (2) Mohawk's statements regarding sales growth and the demand for its conventional flooring products were false and misleading; (3) the Company falsely assured stockholders about its increasing accounts receivable and inventory levels during the Class Period by falsely attributing those increases to external factors like rising raw material costs and inflation; and (4) as a result of the foregoing, defendants' statements about its business and operations were materially false and misleading at all relevant times.
If you are a current, long-term shareholder of Mohawk, holding shares before April 28, 2017, you may have standing to hold Mohawk harmless from the alleged harm caused by the officers and directors of the Company by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are interested in learning more about the investigation, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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