Home Life Style Kaskela Law LLC Announces Investigation of Interface, Inc. (TILE) and Encourages Long-Term...

Kaskela Law LLC Announces Investigation of Interface, Inc. (TILE) and Encourages Long-Term TILE Investors to Contact the Firm – IHUB Partner Press Releases


Press release content from KISSPR. The AP news staff was not involved in its creation.

08/06/2022, Vancouver Canada · V6E 4A6 // KISS PR Brand Story PressWire //

Kaskela Law LLC announces that it is investigating Interface, Inc. (“Interface” or the “Company”) (NASDAQ: TILE) on behalf of the Company’s long-term investors.

Interface is a global flooring company specializing in carpet tile and resilient flooring, including luxury vinyl tile (“LVT”), vinyl sheet, and rubber flooring.

Recently a securities fraud complaint was filed against Interface on behalf of certain investors who purchased shares of the Company’s stock between May 12, 2016 and September 28, 2020. According to the complaint, during that time period, Interface made a series of false and misleading statements to investors concerning, among other things, the Company’s (i) operational and financial results and (ii) internal controls over financial reporting.

On April 24, 2019, Interface disclosed that it had “received a letter in November 2017 from the [SEC] requesting that the Company voluntarily provide information and documents in connection with an investigation into the Company’s historical quarterly [EPS] calculations and rounding practices during the period 2014-2017. The Company subsequently received subpoenas from the SEC in February 2018, July 2018 and April 2019 requesting additional documents and information.” Following this news, shares of Interface’s common stock fell $1.43 per share, or over 8% in value, to close on August 25, 2019 at $15.66 per share.

On September 28, 2020, the SEC issued an Order in which it found that Interface and two of the Company’s former executives had violated the federal securities laws. In connection therewith, Interface agreed to pay a $5 million civil penalty to the SEC.

The investigation seeks to determine whether the members of Interface’s board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct.

Current Interface stockholders who purchased or acquired TILE sharesprior to January 1, 2016are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by email ([email protected]) or online athttps://kaskelalaw.com/cases/interface-inc/, to receive additional information about this investigation and their legal rights and options.

Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation, and has helped recover in excess of $100 million on behalf of victimized investors. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.

CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
[email protected]
Adrienne Bell, Esq.
[email protected]
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com

This notice may constitute attorney advertising in certain jurisdictions.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/133030

Source: Newsfile Corp.

Release ID: 342046

Original Source of the original story >> SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of Interface, Inc. (TILE) and Encourages Long-Term TILE Investors to Contact the Firm

This content is published on behalf of the above source. Please contact them directly for any concern related to the above. 

This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.





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