{"id":386350,"date":"2020-11-22T01:36:53","date_gmt":"2020-11-22T06:36:53","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=386350"},"modified":"2020-11-22T01:36:53","modified_gmt":"2020-11-22T06:36:53","slug":"shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-interface-inc-of-class-action-lawsuit-and-upcoming-deadline-tile-3","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-interface-inc-of-class-action-lawsuit-and-upcoming-deadline-tile-3\/","title":{"rendered":"SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Interface, Inc. of Class Action Lawsuit and Upcoming Deadline\u00a0 \u2013 TILE"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">NEW YORK, Nov.  22, 2020  (GLOBE NEWSWIRE) &#8212; Pomerantz LLP announces that a class action lawsuit has been filed against Interface, Inc. (\u201cInterface\u201d or the \u201cCompany\u201d) (NASDAQ: TILE) and certain of its officers.\u00a0\u00a0 The class action, filed in United States District Court for the Eastern District of New York, and docketed under 20-cv-05518, is on behalf of a class consisting of all persons other than Defendants who purchased or otherwise acquired Interface securities between March 2, 2018 and September 28, 2020, both dates inclusive (the \u201cClass Period\u201d), seeking to recover damages caused by Defendants\u2019 violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d) and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.<\/p>\n<p align=\"justify\">If you are a shareholder who purchased Interface securities during the Class Period, you have until January 11, 2021, to ask the Court to appoint you as Lead Plaintiff for the class.\u00a0 A copy of the Complaint can be obtained at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Iyp13hGrbrotRGqet-KSOlWbSwMDHEFAEnQ8wRM4wQm0MqnLaekT0uYbpNqesT3THWJwt1pzG6lRwAAV02_e5tOec00yG4DGIhSYJMkWiic=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>www.pomerantzlaw.com<\/u><\/a>. \u00a0 To discuss this action, contact Robert S. Willoughby at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=rdOL5oUn7SW7fZlOZbpp90MK-UdYFhuQO7faiBpj7nrrUGCkH6QnOwKeIzcGKTITBj6HBIN1a2TyX-9aEgB3wrayqnRyKFUF7SWRIHwzv40=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>newaction@pomlaw.com<\/u><\/a> or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.\u00a0<\/p>\n<p align=\"center\">\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=2SmwbsqFM2i5qhWwawmXX1azDocq8htP0ArtO_BS4DR_2QaRFytVcgvoQygXuxds5TwtTVmPbYyrE-SIinzMBLJFX13JzJ6RTrojvfpEpnmor3GIrmRJGjvuVlUyKYEvOW_dgTQvsTRF99gKobkqNOd7DoJPGGkriuz8GbuHcOA=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><br \/>\n          <strong><br \/>\n            <u>[Click here for information about joining the class action]<\/u><br \/>\n          <\/strong><br \/>\n        <\/a>\n      <\/p>\n<p align=\"justify\">Interface is a modular flooring company that designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific.\u00a0 The Company was founded in 1973 and is headquartered in Atlanta, Georgia.<\/p>\n<p align=\"justify\">The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company\u2019s business, operational and compliance policies.\u00a0 Specifically, 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, <em>inter alia<\/em>, reported artificially inflated income and earnings per share (\u201cEPS\u201d) in 2015 and 2016; (iii) Interface and certain of its employees were under investigation by the Securities and Exchange Commission (\u201cSEC\u201d) 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 (iv) as a result, the Company\u2019s public statements were materially false and misleading at all relevant times.<\/p>\n<p align=\"justify\">On April 24, 2019, Defendants filed a current report on Form 8-K with the SEC, disclosing, <em>inter alia<\/em>, that Interface \u201creceived a letter in November 2017 from the [SEC] requesting that the Company voluntarily provide information and documents in connection with an investigation into the Company\u2019s historical quarterly [EPS] calculations and rounding practices during the period 2014-2017\u201d; that \u201c[t]he Company subsequently received subpoenas from the SEC in February 2018, July 2018 and April 2019 requesting additional documents and information\u201d; and that \u201c[i]n the fourth quarter of 2018, the Company conducted at the SEC\u2019s request an internal investigation into these and other related issues for seven quarters in 2015, 2016 and 2017.\u201d<\/p>\n<p align=\"justify\">On 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.<\/p>\n<p align=\"justify\">Then, on September 28, 2020, the SEC announced the conclusion of its investigation into Interface\u2019s historical quarterly EPS calculations and rounding practices.\u00a0 Interface agreed to pay a $5 million fine to resolve the matter and was ordered to cease and desist from violating the federal securities laws.\u00a0\u00a0 In the SEC\u2019s enforcement order issued that same day, the SEC also disclosed how, <em>inter alia<\/em>, \u201cInterface 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,\u201d and had modified certain documents after the SEC\u2019s investigation began.<\/p>\n<p align=\"justify\">On this news, Interface\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<\/p>\n<p align=\"justify\">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 <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Iyp13hGrbrotRGqet-KSOgI_FaEHYFuvK3YDooWAbupcatv6uWy_-K3rMbK0U2or7EUPKxyQlX3FSlqA-zdj7dKj9jHRQTXYk6FsxbK3H7s=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>www.pomerantzlaw.com<\/u><\/a>.<\/p>\n<p align=\"justify\">\n        <strong>CONTACT:<br \/><\/strong>Robert S. Willoughby<br \/>Pomerantz LLP<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=za9G4_kYQcfYuCGB4cEhhMolvjO-eBEyaQjJqZRJDrqb1DQtSeXn_XfapcenOb2iMDi9bYppIYyW8Th_D2ahS1ENm7oBZg2x98mlyoFyb_w=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>rswilloughby@pomlaw.com<\/u><\/a><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=uwws4QdRzYnIfUB4K63zzjZK_ONKvACacT9y5NcriXg1Oml502-FFiR1EQt29x9c89WNTP8lgRvo-XsCBR94cw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><br \/><\/a>888-476-6529 ext. 7980<\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5MDMyNiMzODM4ODcxIzIwMTc2NDQ=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/79c90475-c89a-4d73-ac8e-d97403e66454\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, Nov. 22, 2020 (GLOBE NEWSWIRE) &#8212; Pomerantz LLP announces that a class action lawsuit has been filed against Interface, Inc. (\u201cInterface\u201d or the \u201cCompany\u201d) (NASDAQ: TILE) and certain of its officers.\u00a0\u00a0 The class action, filed in United States District Court for the Eastern District of New York, and docketed under 20-cv-05518, is on behalf of a class consisting of all persons other than Defendants who purchased or otherwise acquired Interface securities between March 2, 2018 and September 28, 2020, both dates inclusive (the \u201cClass Period\u201d), seeking to recover damages caused by Defendants\u2019 violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d) and &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-interface-inc-of-class-action-lawsuit-and-upcoming-deadline-tile-3\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Interface, Inc. of Class Action Lawsuit and Upcoming Deadline\u00a0 \u2013 TILE&#8221;<\/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-386350","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Interface, Inc. of Class Action Lawsuit and Upcoming Deadline\u00a0 \u2013 TILE - 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\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-interface-inc-of-class-action-lawsuit-and-upcoming-deadline-tile-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Interface, Inc. of Class Action Lawsuit and Upcoming Deadline\u00a0 \u2013 TILE - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, Nov. 22, 2020 (GLOBE NEWSWIRE) &#8212; Pomerantz LLP announces that a class action lawsuit has been filed against Interface, Inc. (\u201cInterface\u201d or the \u201cCompany\u201d) (NASDAQ: TILE) and certain of its officers.\u00a0\u00a0 The class action, filed in United States District Court for the Eastern District of New York, and docketed under 20-cv-05518, is on behalf of a class consisting of all persons other than Defendants who purchased or otherwise acquired Interface securities between March 2, 2018 and September 28, 2020, both dates inclusive (the \u201cClass Period\u201d), seeking to recover damages caused by Defendants\u2019 violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d) and &hellip; Continue reading &quot;SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Interface, Inc. of Class Action Lawsuit and Upcoming Deadline\u00a0 \u2013 TILE&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-interface-inc-of-class-action-lawsuit-and-upcoming-deadline-tile-3\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-22T06:36:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5MDMyNiMzODM4ODcxIzIwMTc2NDQ=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-interface-inc-of-class-action-lawsuit-and-upcoming-deadline-tile-3\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-interface-inc-of-class-action-lawsuit-and-upcoming-deadline-tile-3\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Interface, Inc. of Class Action Lawsuit and Upcoming Deadline\u00a0 \u2013 TILE\",\"datePublished\":\"2020-11-22T06:36:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-interface-inc-of-class-action-lawsuit-and-upcoming-deadline-tile-3\\\/\"},\"wordCount\":782,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-interface-inc-of-class-action-lawsuit-and-upcoming-deadline-tile-3\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA5MDMyNiMzODM4ODcxIzIwMTc2NDQ=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-interface-inc-of-class-action-lawsuit-and-upcoming-deadline-tile-3\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-interface-inc-of-class-action-lawsuit-and-upcoming-deadline-tile-3\\\/\",\"name\":\"SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Interface, Inc. of Class Action Lawsuit and Upcoming Deadline\u00a0 \u2013 TILE - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-interface-inc-of-class-action-lawsuit-and-upcoming-deadline-tile-3\/","og_locale":"en_US","og_type":"article","og_title":"SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Interface, Inc. of Class Action Lawsuit and Upcoming Deadline\u00a0 \u2013 TILE - Market Newsdesk","og_description":"NEW YORK, Nov. 22, 2020 (GLOBE NEWSWIRE) &#8212; Pomerantz LLP announces that a class action lawsuit has been filed against Interface, Inc. (\u201cInterface\u201d or the \u201cCompany\u201d) (NASDAQ: TILE) and certain of its officers.\u00a0\u00a0 The class action, filed in United States District Court for the Eastern District of New York, and docketed under 20-cv-05518, is on behalf of a class consisting of all persons other than Defendants who purchased or otherwise acquired Interface securities between March 2, 2018 and September 28, 2020, both dates inclusive (the \u201cClass Period\u201d), seeking to recover damages caused by Defendants\u2019 violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d) and &hellip; Continue reading \"SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Interface, Inc. of Class Action Lawsuit and Upcoming Deadline\u00a0 \u2013 TILE\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-interface-inc-of-class-action-lawsuit-and-upcoming-deadline-tile-3\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-22T06:36:53+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5MDMyNiMzODM4ODcxIzIwMTc2NDQ=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-interface-inc-of-class-action-lawsuit-and-upcoming-deadline-tile-3\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-interface-inc-of-class-action-lawsuit-and-upcoming-deadline-tile-3\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Interface, Inc. of Class Action Lawsuit and Upcoming Deadline\u00a0 \u2013 TILE","datePublished":"2020-11-22T06:36:53+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-interface-inc-of-class-action-lawsuit-and-upcoming-deadline-tile-3\/"},"wordCount":782,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-interface-inc-of-class-action-lawsuit-and-upcoming-deadline-tile-3\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5MDMyNiMzODM4ODcxIzIwMTc2NDQ=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-interface-inc-of-class-action-lawsuit-and-upcoming-deadline-tile-3\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-interface-inc-of-class-action-lawsuit-and-upcoming-deadline-tile-3\/","name":"SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Interface, Inc. of Class Action Lawsuit and Upcoming Deadline\u00a0 \u2013 TILE - 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