|Company name||Floor & Decor Holdings, Inc.|
NEW YORK, September 18, 2018 – Bragar Eagel and Squire is investigating certain officers and directors of Floor & Décor Holdings, Inc. (NYSE: FND) following a class action complaint that was filed against Floor and Décor on May 20, 2019.
The complaint alleges that throughout 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 were materially false and misleading. The complaint alleges that prior to the May 24th 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. As a result of this adverse information being withheld from the market, the price of the company’s stock was artificially inflated during the class period, allowing company insiders to sell more than 10.3 million shares of Floor & Decor common stock, including the shares sold in the May 24 Secondary Offering, for proceeds of more than $466 million.
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