MOHAWK DEADLINE ALERT

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Mohawk Industries, Inc. To Contact The Firm - Seite 2

On this news, Mohawk’s stock fell from a closing price of $217.37 per share on July 25, 2018 to $179.31 on July 26, 2018—a $38.06 or 17.51% drop.

Then, on October 25, 2018, after the market closed, the Company reported sales and earnings for the third quarter of 2018 that substantially missed analysts’ estimates and the Company’s previous guidance range, with sales growth in all segments lower than estimates. Company executives attributed Mohawk’s poor financial results, in part, to further manufacturing reductions that were required during the period to control inventory buildup.

On this news, Mohawk’s stock fell from a closing price of $151.07 per share on October 25, 2018 to $115.03 on October 26, 2018—a $36.04 or 23.86% drop.

On July 25, 2019, after the market closed, Mohawk reported that sales in its Flooring NA segment were down 7% and revealed that the Company was again reducing production to control inventory levels and match its supply with customer demand.

The Company also revealed that increased competition and excess inventory had impacted its financial results, particularly in its Global Ceramic segment. The Company announced that “lower demand” for certain Conventional Flooring Products created excess inventory which impacted the Company’s sales and margins. The Company further revealed that there was a “big buildup in inventory in ceramic” in the sales channel, which had negatively impacted the Company’s sales. Accordingly, the Company provided a weak earnings forecast for the third quarter of 2019, which was well below analysts’ estimates.

As a result of these disclosures, Mohawk’s stock fell from a closing price of $156.36 per share on July 25, 2019 to $128.84 on July 26, 2019—a $27.52 or 17.60% drop.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Mohawk’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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