NEW YORK, Nov. 19, 2019 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Armstrong Flooring, Inc. (“Armstrong Flooring” or the “Company”) (NYSE: AFI) in the United States District Court for the Central District of California on behalf of those who purchased or acquired the securities of Armstrong Flooring between March 6, 2018 and November 4, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Armstrong Flooring investors under the federal securities laws.
The Complaint alleges that Defendants’ statements were false and/or misleading and/or failed to disclose that: (1) the Company had engaged in channel stuffing to artificially boost sales; (2) the Company’s internal control over inventory levels was not effective; and (3) as a result, Defendants’ statements regarding Armstrong Flooring’s business, operations, and prospects, were materially false and misleading. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the January 14, 2020 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected]
Please visit our website at http://www.gme-law.com for more information about the firm.
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