Floor & Decor Holdings, Inc. Securities Litigation
On or around 09/21/2020 (Court's order of dismissal)
Filing Date: May 20, 2019
According to the Complaint, Floor & Decor describes itself as a high-growth differentiated multichannel specialty retailer of hard surface flooring and related accessories, with warehouse-format stores across 21 states.
The Complaint alleges that during the Class Period, Defendants made false and misleading statements and/or failed to disclose adverse information regarding Floor & Decor’s business and prospects. Specifically, the Complaint alleges that each of the statements in the Registration Statement filed with the SEC regarding the current financial condition of the Company was materially false and misleading because, prior to the May 24 Secondary Offering, Defendants knew, but failed to disclose, that the Company had already begun to experience declining sales trends that would ultimately result in the reduction of its fiscal 2018 sales and adjusted earnings per share guidance, which had been increased as recently as May 2018.
On August 15, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on October 7. On November 12, Lead Plaintiff filed a second amended Complaint. Defendants filed a Motion to Dismiss the amended Complaint on November 21. On September 21, 2020, the Court issued an Order granting Defendants' Motion to Dismiss.
Company & Securities Information
Defendant: Floor & Decor Holdings, Inc.
Sector: Consumer Cyclical
Industry: Textiles - Non Apparel
Headquarters: United States
Ticker Symbol: FND
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Grant Taylor, et al. v. Floor & Decor Holdings, Inc., et al.