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MHK.US
id: 611, Created by Stan Vick Chase, Scout
Mohawk Industries (MHK) Investors $60M Settlement
Pending settlement
28 April 2017
Class period Start25 July 2019
Class period End05 July 2023
Claim deadlineMohawk Industries (MHK) agreed to pay $60 million to settle a securities class action lawsuit to avoid further litigation.
The Complaint alleged that Defendants made false and misleading statements about Mohawk's sales growth and the demand for the Company's conventional flooring products throughout the Class Period. They falsely attributed the increases in the Company's accounts receivable and inventory levels to external factors such as rising raw material costs and inflation while reassuring investors about them.
All persons or entities who purchased or otherwise acquired publicly traded common stock of Mohawk during the period from April 28, 2017, through July 25, 2019, may be entitled to payouts.
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Case number
20-CV-00005
Filing date
03 January 2020
Lead plaintiff
Public Employees' Retirement System of Mississippi
Attorney
Bernstein Litowitz Berger & Grossmann LLP (New York, NY), Bondurant Mixson & Elmore, LLP (Atlanta, GA), Davidson Bowie, PLLC (Ridgeland, MS)
Defendants
Jeffrey S. Lorberbaum
Court
Northern District of Georgia
Judge
Hon. Eleanor L. Ross
Administrator
JND Legal Administration
Court hearing date
31 May 2023
Exclusion deadline
10 May 2023
Objection deadline
10 May 2023
Hearing deadline
10 May 2023
+$60,000,000
Total Settlement Amount