World News: 14:12 GMT Tuesday 14th January 2020. [Zhang Investor Law P.C. via Globe Newswire via SPi World News]
NEW YORK, Jan. 14, 2020 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Mohawk Industries, Inc. (NYSE: MHK) between April 28, 2017 and July 25, 2019, inclusive (the “Class Period”).
If you wish to serve as lead plaintiff, you must move the Court no later than A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
To join the class action, or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email for information on the class action.
According to the lawsuit, throughout the Class Period, defendants and its senior executives presented false and misleading financial statements or omitted to (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. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.
Zhang Investor Law P.C. 99 Wall Street, Suite 232 New York, New York 10005 tel: (800) 991-3756
Globe Newswire: 14:12 GMT Tuesday 14th January 2020
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