Interface, Inc. Investigation
The law firm of Kirby McInerney LLP is investigating potential claims against Interface, Inc. ("Interface" or the "Company") (NASDAQ: TILE). This investigation concerns whether Interface has violated federal securities laws and/or engaged in other unlawful business practices.
On April 24, 2019, Interface disclosed that the Company had received a letter from the Securities and Exchange Commission ("SEC") in November 2017 and subsequent subpoenas from the SEC in February 2018, July 2018, and April 2019 concerning "the Company's historical quarterly earnings per share ("EPS") calculations and rounding practices during the period 2014-2017." Interface also disclosed that it has placed its Vice President and Chief Accounting Officer on paid administrative leave after it learned that in 2018, in the process of collecting materials from 2015, 2016, and 2017 for production to the SEC, he had added certain notes to those materials that were then produced to the SEC.
On this news, shares of Interface fell $1.43, approximately 8.4%, to close at $15.66 on April 25, 2019.
On January 21, 2020, Interface announced the termination of its President and Chief Executive Officer Jay Gould “after an investigation concluded that he engaged in personal behavior that violated Company policy and core values.”
On this news, share of Interface fell $1.33, or 7.7%, to close at $16.05 on January 21, 2020.
If you acquired Interface securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at email@example.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.