MHK.US
id: 611
Mohawk Industries (MHK) Investors $60M Settlement
N.D. Georgia
Court20-CV-00005
Case number04/28/2017
Class period Start07/25/2019
Class period End07/05/2023
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.
Case Status
Disbursement
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.94
Filing date
01/03/2020
Plaintiffs
Public Employees' Retirement System of Mississippi
Attorneys
Bernstein Litowitz Berger & Grossmann LLP (New York, NY), Bondurant Mixson & Elmore, LLP (Atlanta, GA), Davidson Bowie, PLLC (Ridgeland, MS)
Defendants
Jeffrey S. Lorberbaum
Judge
Hon. Eleanor L. Ross
Administrator
JND Legal Administration
Court hearing date
05/31/2023
Exclusion deadline
05/10/2023
Objection deadline
05/10/2023
Hearing deadline
05/10/2023
Trades matching type
FIFO
Disbursement date
01/08/2025
+$60,000,000
Cash Settlement Amount