An investigation on behalf of current long term investors in Floor & Decor Holdings, Inc. (NYSE: FND) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 10/18/2019 -- An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Floor & Decor Holdings, Inc. .
Investors who are current long term investors in Floor & Decor Holdings, Inc. (NYSE: FND) 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 for investors in NYSE: FND stocks follows a lawsuit filed against Floor & Decor Holdings, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: FND stocks, concerns whether certain Floor & Decor Holdings, Inc. directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the defendants made false and misleading statements and/or failed to disclose adverse information regarding Floor & Decor's business and prospects. Specifically, each of the statements in the Registration Statement filed with the SEC regarding the current financial condition of the Company was materially false and misleading because, prior to the May 24 Secondary Offering, 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 had been increased as recently as May 2018. As a result of this adverse information being withheld from the market, the price of the Company's stock was artificially inflated during the Class Period, allowing Company insiders to sell more than 10.3 million shares of Floor & Decor common stock, including the shares sold in the May 24 Secondary Offering, for proceeds of more than $466 million.
Those who purchased shares of Floor & Decor Holdings, Inc. (NYSE: FND) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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