NYSE: MHK Investor Notice: Update in Lawsuit against Mohawk Industries, Inc. announced by Shareholders Foundation

SAN DIEGO, July 14, 2020 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in shares of Mohawk Industries, Inc. (NYSE: MHK).

Investors, who purchased shares of Mohawk Industries, Inc. (NYSE: MHK) in 2017 or earlier and continue to hold any of their NYSE: MHK shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On January 9, 2020, a lawsuit was filed Mohawk Industries, Inc. over alleged securities laws violations. The plaintiff alleged that the defendants failed to disclose to investors that the Company engaged in deceptive and unsustainable sales practices to mask declining customer demand for its Conventional Flooring products, that Mohawk’s increasing inventories was not the result of increasing inflation or the Company’s backward integration, but instead the result of the Company deliberately stuffing the channels with Conventional Flooring Products to boost sales, and that as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On June 29, 2020, an Amended Class Action Complaint for violations of federal securities laws was filed against Mohawk and its CEO.

On July 13, 2020, Mohawk Industries, Inc disclosed that on June 25, 2020, the company received subpoenas issued by the U.S. Attorney’s Office for the Northern District of Georgia and the U.S. Securities and Exchange Commission on topics similar to those raised by the amended complaint.

Those who purchased Mohawk Industries, Inc. (NYSE: MHK) shares should contact the Shareholders Foundation, Inc.

CONTACT:
Shareholders Foundation, Inc. 
Michael Daniels 
+1 (858) 779-1554 
mail@shareholdersfoundation.com 
3111 Camino Del Rio North 
Suite 423 
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a 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. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.