{"id":382040,"date":"2020-11-16T12:03:25","date_gmt":"2020-11-16T17:03:25","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=382040"},"modified":"2020-11-16T12:03:25","modified_gmt":"2020-11-16T17:03:25","slug":"investor-alert-law-offices-of-howard-g-smith-announces-the-filing-of-a-securities-class-action-on-behalf-of-interface-inc-tile-investors","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-law-offices-of-howard-g-smith-announces-the-filing-of-a-securities-class-action-on-behalf-of-interface-inc-tile-investors\/","title":{"rendered":"INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Interface, Inc. (TILE) Investors"},"content":{"rendered":"

<\/p>\n

INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Interface, Inc. (TILE) Investors<\/b><\/p>\n

BENSALEM, Pa.–(BUSINESS WIRE<\/a>)–
\nLaw Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Interface, Inc. (\u201cInterface\u201d or the \u201cCompany\u201d) (NASDAQ: TILE<\/a>) securities between March 2, 2018 and September 28, 2020<\/b>, inclusive (the \u201cClass Period\u201d). Interface investors have until January 11, 2021<\/b> to file a lead plaintiff motion.\n<\/p>\n

\nInvestors suffering losses on their Interface investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com<\/a>.\n<\/p>\n

\nInterface is a modular flooring company that designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific.\n<\/p>\n

\nOn April 24, 2019, Interface revealed that in November 2017, it had received a request for information and documents from the U.S. Securities and Exchange Commission (\u201cSEC\u201d) \u201cin connection with an investigation into the Company’s historical quarterly earnings per share [\u201cEPS\u201d] calculations and rounding practices during the period 2014-2017.\u201d The Company further disclosed that it had \u201creceived subpoenas from the SEC in February 2018, July 2018 and April 2019 requesting additional documents and information\u201d and that Interface had conducted an internal investigation into these issues, at the SEC\u2019s request.\n<\/p>\n

\nOn this news, Interface\u2019s stock price fell $1.43 per share, or 8.37%, to close at $15.66 per share on April 25, 2019, thereby injuring investors.\n<\/p>\n

\nOn September 28, 2020, the SEC issued an enforcement order following its investigation into Interface’s historical quarterly EPS calculations and rounding practices. The Company agreed to pay a $5 million fine to resolve the matter and was ordered to cease and desist from violating the federal securities laws. The SEC also disclosed that “Interface employees caused Interface to produce documents in response to Commission investigative requests that were suggestive of contemporaneous support for journal entries that, in truth, did not exist at the time the entries were recorded,” and that they had altered certain documents after the SEC’s investigation initiated.\n<\/p>\n

\nOn this news, the Company\u2019s stock price fell $0.20 per share, or 3.13%, over the following two trading sessions to close at $6.18 per share on September 29, 2020, thereby injuring investors.\n<\/p>\n

\nThe complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Interface had inadequate disclosure controls and procedures and internal control over financial reporting; (2) consequently, Interface, inter alia<\/i>, reported artificially inflated income and EPS in 2015 and 2016; (3) Interface and certain of its employees were under investigation by the SEC with respect to the foregoing issues since at least as early as November 2017, had impeded the SEC\u2019s investigation, and downplayed the true scope of the Company\u2019s wrongdoing and liability with respect to the SEC investigation; and (4) as a result, the Company\u2019s public statements were materially false and misleading at all relevant times.\n<\/p>\n

\nIf you purchased Interface securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com<\/a>, or visit our website at www.howardsmithlaw.com<\/a>.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201116005158\/en\/<\/a><\/span><\/p>\n

\nLaw Offices of Howard G. Smith
\n
Howard G. Smith, Esquire
\n
215-638-4847
\n
888-638-4847
\n
howardsmith@howardsmithlaw.com
\n<\/a>
www.howardsmithlaw.com<\/a><\/p>\n

KEYWORDS:<\/b> California Pennsylvania United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Interface, Inc. (TILE) Investors BENSALEM, Pa.–(BUSINESS WIRE)– Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Interface, Inc. (\u201cInterface\u201d or the \u201cCompany\u201d) (NASDAQ: TILE) securities between March 2, 2018 and September 28, 2020, inclusive (the \u201cClass Period\u201d). Interface investors have until January 11, 2021 to file a lead plaintiff motion. Investors suffering losses on their Interface investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. Interface is a modular flooring … <\/p>\n

Continue reading “INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Interface, Inc. (TILE) Investors”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-382040","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nINVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Interface, Inc. (TILE) Investors - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-law-offices-of-howard-g-smith-announces-the-filing-of-a-securities-class-action-on-behalf-of-interface-inc-tile-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Interface, Inc. (TILE) Investors - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Interface, Inc. (TILE) Investors BENSALEM, Pa.–(BUSINESS WIRE)– Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Interface, Inc. (\u201cInterface\u201d or the \u201cCompany\u201d) (NASDAQ: TILE) securities between March 2, 2018 and September 28, 2020, inclusive (the \u201cClass Period\u201d). Interface investors have until January 11, 2021 to file a lead plaintiff motion. Investors suffering losses on their Interface investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. Interface is a modular flooring … Continue reading "INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Interface, Inc. 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