Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of Interface Inc (NASDAQ: TILE) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of Interface Inc (NASDAQ: TILE) concerning whether a series of statements by Interface Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On April 24, 2019, Interface revealed that the Company had received a letter from the Securities and Exchange Commission (“SEC”) in November 2017 and subsequent subpoenas from the SEC in February 2018, July 2018, and April 2019 concerning “the Company’s historical quarterly earnings per share (“EPS”) calculations and rounding practices during the period 2014-2017.” In addition, the Company revealed that it has placed its Vice President and Chief Accounting Officer on paid administrative leave after it learned that in 2018, in the process of collecting materials from 2015, 2016, and 2017 for production to the SEC, he had added certain notes to those materials that were then produced to the SEC.
Following this news, NASDAQ: TILE fell $1.43, roughly 8.4%, to close at $15.66 on April 25, 2019.
Based in Atlanta, Georgia, and founded in 1973 Interface Inc designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific.
If you purchased shares of Interface Inc (NASDAQ: TILE) on or before April 24, 2019, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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