{"id":410029,"date":"2021-01-06T21:03:29","date_gmt":"2021-01-07T02:03:29","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=410029"},"modified":"2021-01-06T21:03:29","modified_gmt":"2021-01-07T02:03:29","slug":"deadline-alert-bragar-eagel-squire-p-c-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-interface-inc-and-encourages-investors-to-contact-the-firm","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-alert-bragar-eagel-squire-p-c-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-interface-inc-and-encourages-investors-to-contact-the-firm\/","title":{"rendered":"DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Interface, Inc. and Encourages Investors to Contact the Firm"},"content":{"rendered":"

<\/p>\n

DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Interface, Inc. and Encourages Investors to Contact the Firm<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nBragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of investors that purchased Interface, Inc. (NASDAQ: TILE) securities between March 2, 2018 and September 28, 2020 (the \u201cClass Period\u201d). Investors have until January 11, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.\n<\/p>\n

\nClick here<\/a> to participate in the action.\n<\/p>\n

\nOn April 24, 2019, Defendants filed a current report on Form 8-K with the SEC, disclosing, inter alia<\/i>, 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’s request an internal investigation into these and other related issues for seven quarters in 2015, 2016 and 2017.\u201d\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.\n<\/p>\n

\nThen, on September 28, 2020, the SEC announced the conclusion of its investigation into Interface’s historical quarterly EPS calculations and rounding practices. 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. In the SEC\u2019s enforcement order issued that same day, the SEC also disclosed how, inter alia<\/i>, \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.\n<\/p>\n

\nOn 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.\n<\/p>\n

\nThe complaint, filed on November 12, 2020, alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company\u2019s business, operational and compliance policies. 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, inter alia<\/i>, 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.\n<\/p>\n

\nIf you purchased Interface securities during the Class Period and suffered a loss, are a long-term stockholder, have information, 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 Brandon Walker, Melissa Fortunato, or Marion Passmore by email at investigations@bespc.com<\/a>, telephone at (212) 355-4648, or by filling out this contact form.<\/a> There is no cost or obligation to you.\n<\/p>\n

About Bragar Eagel & Squire, P.C.:<\/b><\/p>\n

\nBragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com<\/a>. Attorney advertising. Prior results do not guarantee similar outcomes.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210106005765\/en\/<\/a><\/span><\/p>\n

\nBragar Eagel & Squire, P.C.
\n
Brandon Walker, Esq.
\n
Melissa Fortunato, Esq.
\n
Marion Passmore, Esq.
\n
(212) 355-4648
\n
investigations@bespc.com
\n<\/a>
www.bespc.com<\/a><\/p>\n

KEYWORDS:<\/b> New York United States North America<\/p>\n

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

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Interface, Inc. and Encourages Investors to Contact the Firm NEW YORK–(BUSINESS WIRE)– Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of investors that purchased Interface, Inc. (NASDAQ: TILE) securities between March 2, 2018 and September 28, 2020 (the \u201cClass Period\u201d). Investors have until January 11, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit. Click here to participate in the action. On April 24, 2019, Defendants filed … <\/p>\n

Continue reading “DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Interface, Inc. and Encourages Investors to Contact the Firm”<\/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-410029","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nDEADLINE ALERT: Bragar Eagel & Squire, P.C. 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