An investigation on behalf of investors in Interface, Inc. (NASDAQ: TILE) shares over potential wrongdoing at Interface, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 06/04/2019 -- Interface, Inc. is under investigation over potential breaches of fiduciary duties by certain officers and directors.
Investors who purchased shares of Interface, Inc. (NASDAQ: TILE) and currently hold any of those NASDAQ: TILE shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Interface directors breached their fiduciary duties and caused damage to the company and its shareholders.
Atlanta, GA based Interface, Inc., a modular flooring company, designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific.
Interface, Inc. reported that its annual Total Revenue rose from $996.44 million in 2017 to over $1.17 billion in 2018 and that its Net Income declined from $53.24 million in 2017 to $50.25 million in 2018.
On April 24, 2019, Interface, Inc. announced it received a letter in November 2017 from the Securities & Exchange Commission (the "SEC") requesting that the Company voluntarily provide information and documents in connection with an investigation into the Company's historical quarterly earnings per share ("EPS") calculations and rounding practices during the period 2014-2017.
Interface, Inc. also reported it received subpoenas from the SEC in February 2018, July 2018 and April 2019 requesting additional documents and information. In the fourth quarter of 2018, Interface, Inc. conducted at the SEC's request an internal investigation into these and other related issues for seven quarters in 2015, 2016 and 2017.
Interface, Inc. also announced that its Vice President and Chief Accounting Officer was placed on paid administrative leave from Interface, Inc. after it was learned that in 2018, in the process of collecting materials from 2015, 2016 and 2017 for production to the SEC, he added certain notes to those materials that were then produced to the SEC.
Shares of Interface, Inc. (NASDAQ: TILE) declined to $14.84 per share on April 25, 2019.
Those who purchased shares of Interface, Inc. (NASDAQ: TILE) have certain options and should contact the Shareholders Foundation.
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