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MarketScreener Homepage  >  Equities  >  Nyse  >  Mohawk Industries, Inc.    MHK

MOHAWK INDUSTRIES, INC.

(MHK)
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MOHAWK INDUSTRIES INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Mohawk Industries, Inc. - MHK

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09/18/2020 | 11:51pm EDT

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Mohawk Industries, Inc. (NYSE: MHK).

On July 25, 2019, after a series of prior negative financial revelations, the Company disclosed that sales for its Flooring NA segment were down 7% due to “lower demand” for certain products resulting in excess inventory that had impacted its sales and margins.

Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period regarding improper revenue recognition, demand and inventory levels as well as fraudulent channel stuffing, among other things, violating federal securities laws. The case remains ongoing.

Then, on July 13, 2020, the Company disclosed it received subpoenas from the U.S. Attorney’s Office for the Northern District of Georgia and the U.S. Securities and Exchange Commission related to the above issues.

KSF’s investigation is focusing on whether Mohawk’s officers and/or directors breached their fiduciary duties to Mohawk’s shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of Mohawk shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-mhk/ to learn more.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.

To learn more about KSF, you may visit www.ksfcounsel.com.

© Business Wire 2020

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Financials (USD)
Sales 2020 9 256 M - -
Net income 2020 330 M - -
Net Debt 2020 1 914 M - -
P/E ratio 2020 22,0x
Yield 2020 -
Capitalization 7 453 M 7 453 M -
EV / Sales 2020 1,01x
EV / Sales 2021 0,90x
Nbr of Employees 41 800
Free-Float 73,6%
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Technical analysis trends MOHAWK INDUSTRIES, INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 18
Average target price 101,93 $
Last Close Price 104,68 $
Spread / Highest target 24,2%
Spread / Average Target -2,62%
Spread / Lowest Target -30,3%
EPS Revisions
Managers
NameTitle
Jeffrey S. Lorberbaum Chairman & Chief Executive Officer
W. Christopher Wellborn President, Chief Operating Officer & Director
Frank Hubbard Boykin Chief Financial Officer
Jana Kanyadan Chief Information Officer & SVP
Bruce C. Bruckmann Independent Director
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