DENVER, June 21, 2019 /PRNewswire/ -- Franklin D.
Azar & Associates PC and Thornton Law Firm LLP are
investigating a securities class action lawsuit filed on behalf of
shareholders of Floor & Decor Holdings, Inc. (NYSE: FND), a
multi-channel specialty retailer of hard surface flooring and
related accessories. Purchasers of FND common stock between
May 23, 2018 and August 1, 2018 ("the Class Period") are included
as prospective members of this class action.
Shareholders who purchased at least 1,000 shares of FND stock
from May 23, 2018 to August 1, 2018 are encouraged to contact
Franklin D. Azar and Associates,
P.C. to discuss their options in seeking to be a lead plaintiff in
the action.
If you would like to discuss this Action in more depth, or have
any questions concerning this notice, your rights, or your
interests, please contact Ivy Ngo of
Franklin D. Azar and Associates,
P.C. at 1-844-241-9475 or by email at Securities@FDAzar.com.
The lawsuit alleges that Floor & Decor Holdings withheld
adverse information from investors, artificially inflating FND
stock prices during the Class Period. The action alleges that Floor
& Decor Holdings made materially false and misleading
statements in its May 23, 2018 SEC
Registration Statement and Prospectus in advance of a May 24, 2018 Secondary Offering. Prior to the
Secondary Offering, Floor & Decor Holdings knew of its
declining sales trends that would require the reduction of its
FY2018 earnings guidance. In fact, Floor & Décor Holdings had
increased this guidance as late as May
2019. By misleading investors, Floor & Décor Holdings
and its executives were able to raise over $466 million in proceeds from innocent
shareholders.
When the truth was allegedly revealed on August 2, 2018, FND stock declined precipitously,
falling over 21% to just $37.50 per
share on August 3. The class action
seeks to recover this loss for shareholders who purchased during
the Class Period.
Franklin D. Azar & Associates
of Denver, Colorado, has secured
more than $1.5 Billion on behalf of
clients in state and federal courts. The firm's extensive class
action experience and resources make it a leader in securities
litigation. More information about Franklin
D. Azar and Associates may be found online at
https://fdazar.com/.
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SOURCE Franklin D. Azar &
Associates, P.C.