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MHK.US
id: 611

Mohawk Industries (MHK) Investors $60M Settlement

N.D. Georgia
Court
20-CV-00005
Case number
28 Apr 2017
Class period Start
25 Jul 2019
Class period End
05 Jul 2023
Claim deadline
Mohawk 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
Accepting Late Claims
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.94
Filing date
03 January 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
31 May 2023
Exclusion deadline
10 May 2023
Objection deadline
10 May 2023
Hearing deadline
10 May 2023
Trades matching type
FIFO
+$60,000,000
Cash Settlement Amount

Mohawk Industries Inc

Mohawk Industries, Inc. designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Eur...

    Ticker
    MHK.US
    ISIN
    US6081901042
    CIK
    851968
    Sector
    Consumer Cyclical
    Industry
    Furnishings, Fixtures & Appliances
    Country
    USA
    Address
    160 South Industrial Boulevard, Calhoun, GA, United States, 30701