NEW YORK, April 30, 2019 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Interface, Inc. ("Interface" or the "Company") (NASDAQ: TILE). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Interface and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 24, 2019, Interface announced receipt of a letter in November 2017 from the U.S. Securities and Exchange Commission ("SEC") requesting that the Company voluntarily provide information and documents in connection with an investigation into the Company's historical quarterly earnings per share calculations and rounding practices during the period 2014-2017. Interface also reported receipt of subpoenas from the SEC in February 2018, July 2018 and April 2019 requesting additional documents and information. In the fourth quarter of 2018, at the SEC's request, Interface conducted an internal investigation into these and other related issues for seven quarters in 2015, 2016 and 2017. Interface also announced that its Vice President and Chief Accounting Officer was placed on paid administrative leave from Interface after the Company 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.
Following this news, Interface's stock price fell $1.43 per share, or 8.37%, to close at $15.66 per share on April 25, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP