Interface, Inc. Securities Litigation

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Lawsuit Overview

Defendant:Interface, Inc.
Date Filed:November 12th, 2020
Sector:Consumer Durables
Industry:Home Furnishings
Class Start Date:March 2nd, 2018
Class End Date:September 28th, 2020

According to the Complaint, Interface, Inc. is a modular flooring company that designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) Interface had inadequate disclosure controls and procedures and internal control over financial reporting; (ii) consequently, Interface, inter alia, reported artificially inflated income and earnings per share in 2015 and 2016; (iii) Interface and certain of its employees were under investigation by the Securities and Exchange Commission with respect to the foregoing issues since at least as early as November 2017, had impeded the SEC's investigation, and downplayed the true scope of the Company's wrongdoing and liability with respect to the SEC investigation; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

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First Identified Complaint

Thomas S. Swanson, et al. v. Interface, Inc., et al.

Date Filed:November 12th, 2020
Class Period Start:March 2nd, 2018
Class Period End:September 28th, 2020
First Identified Complaint Filings
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