INITIA INVESTIGATION INTERFACE – GuruFocus.com
Former Louisiana Attorney General Charles C. Foti, Jr., Esq., partner at the law firm Kahn Swick & Foti, LLC (“KSF”), announces that KSF has opened an investigation into Interface, Inc. ( NasdaqGS: TILE).
On September 28, 2020, the United States Securities and Exchange Commission (“SEC”) announced the results of its investigation into the company’s historical EPS calculations and rounding practices, including findings from a management inappropriate profits by, or at the direction of, the two companies of the company. most senior accountants, as well as violations of federal securities laws. The SEC order also concluded that “Interface employees caused Interface to produce materials in response to investigative requests from the commission that suggested contemporary support for the journal entries that, in truth, do not did not exist at the time the paperwork was filed,” and continued to alter documents even after the SEC began its investigation, resulting in, among other actions, a $5 million fine. to the company.
The Company was sued in a securities class action for failing to disclose material information in violation of federal securities laws. Recently, the court presiding over this case denied the company’s motion to dismiss, allowing the case to proceed.
KSF’s investigation focuses on whether Interface’s officers and/or directors breached their fiduciary duties to the company’s shareholders or otherwise violated state or federal laws.
If you have information that may help KSF in its investigation, or if you have long held shares of Interface and wish to discuss your legal rights, you may, at no obligation or cost to you, call toll-free 1- 877-515-1850 or email Lewis Kahn, KSF Managing Partner ([email protected]), or visit https%3A%2F%2Fwww.ksfcounsel.com%2Fcases%2Fnasdaqgs-tile%2F to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s leading securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, fund managers and retail investors – seeking to recover investment losses due to corporate fraud and malfeasance by listed companies in stock exchange. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you can visit www.ksfcounsel.com.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220617005511/en/