PHILADELPHIA, Sept. 5, 2020 /PRNewswire/ — Kaskela Law LLC announces that it is investigating Mohawk Industries, Inc. («Mohawk» or the «Company») (NYSE: MHK) on behalf of the company’s stockholders.
Recently a securities fraud complaint was filed against Mohawk in federal court on behalf of investors who purchased shares of the Company’s stock between April 28, 2017 and July 25, 2019. According to the complaint, during that time period Mohawk and certain of the Company’s senior executive officers engaged in a «fraudulent scheme to fabricate revenues through fictitious ‘sales’ of products that were not delivered to customers and to conceal from investors the true reasons for the Company’s ballooning inventory.» The complaint further alleges that «[w]hen the truth was finally revealed to investors through a series of partial disclosures beginning in July 2018, the price of Mohawk common stock plunged, wiping out $7.4 billion in shareholder value.»
The firm’s investigation seeks to determine whether the members of Mohawk’s board of directors breached their fiduciary duties to Mohawk and its stockholders in connection with the above alleged misconduct.
Current Mohawk stockholders who purchased or acquired shares of the company’s stock prior to April 28, 2017 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585, or online at http://kaskelalaw.com/case/mohawk-industries-inc/, to discuss this investigation and their legal rights and options.
Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.
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SOURCE Kaskela Law LLC