Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 Investing In Floor & Decor Holdings, Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Floor & Decor Holdings, Inc. ("Floor & Decor" or the "Company")(NYSE:FND) of the July 19, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Floor & Decor stock or options between May 23, 2018 and August 1, 2018 and would like to discuss your legal rights, please fill out the form below. There is no cost or obligation to you. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com.
The lawsuit has been filed in the U.S. District Court for the Northern District of Georgia on behalf of all those who purchased Floor & Decor common stock between May 23, 2018 and August 1, 2018 (the "Class Period"). The case, Taylor v. Floor & Decor Holdings, Inc. et al, No. 19-cv-02270 was filed on May 21, 2019, and has been assigned to Judge Steve C. Jones.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose adverse information regarding Floor & Decor’s business and prospects prior to its May 24, 2018 Secondary Offering. The complaint claims that the Company had 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.
On May 3, 2018, the Company announced its financial results for the first quarter of fiscal 2018, reporting revenue and earnings results that beat expectations and increasing the Company’s financial projections for the remainder of fiscal 2018. Then, on May 23, 2018, the Company filed a Registration Statement and Prospectus with the SEC for a Secondary Offering of 10 million shares of Floor & Decor common stock at $44.77 per share.
However, on August 2, 2018, Floor & Decor announced its financial results for the second quarter of 2018. The second quarter results were in sharp contrast to the assurances made on May 3, 2018 about the strength of the Company's business and its continuing growth trajectory for the remainder of 2018.
On this news, Floor & Decor's share price fell from $47.71 per share on August 1, 2018 to a closing price of $37.50 on August 3, 2018: a $10.21 or a 21.4% drop.
Floor & Decor Holdings, Inc. (FND)
* The submission of this form does not create an attorney-client relationship.
Filed on 05/22/2019
Lead Plaintiff Deadline 07/19/2019
685 Third Avenue 26th Floor
10017 New York, New York
Phone (212) 983-9330
Fax (212) 983-9331
Richard W. Gonnello firstname.lastname@example.org Phone (212) 983-9330 Fax (212) 983-9331