Mohawk Industries, an American flooring manufacturer serving residential and commercial clients, the company's CEO and former top executives were hit with a securities lawsuit Tuesday in Georgia Northern District Court. The complaint, filed by Lowenstein Sandler and McCamy, Phillips, Tuggle & Fordham on behalf of Fir Tree Value Master Fund LP, accuses the defendants of fraudulently misleading investors regarding the company's financial prospects by participating in deceptive sales practices to cover the decline in demand of its 'luxury vinyl tile' business. Counsel have not yet appeared for the defendants. The case is 4:22-cv-00098, Fir Tree Value Master Fund, L.P. v. Mohawk Industries, Inc. et al.
Retail & Consumer Goods
April 27, 2022, 11:10 AM