PR Newswire | Nov 24, 2020 04:00PM EST

announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York against Interface, Inc.

11/24 15:00 CST

INTERFACE, INC. CLASS ACTION Alert: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York against Interface, Inc.LEAD PLAINTIFF DEADLINE IS JANUARY 11, 2021 NEW YORK, Nov. 24, 2020

NEW YORK, Nov. 24, 2020 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of those who purchased or acquired the securities of Interface, Inc. ("Interface" or the "Company") (NYSE: TILE) during the period from March 2, 2018through September 28, 2020, both dates inclusive (the "Class Period").

Allinvestors who purchased shares ofagainst ofInterface, Inc. and incurred losses are urgedto contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.

If you have incurred losses in the shares of Interface, Inc., youmay,no later than January 11, 2021,request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the shares of Interface, Inc.

CLICK HERE TO JOIN CASE

On April 24, 2019, Defendants filed a current report on Form 8-K with the U.S. Securities and Exchange Commission ("SEC") disclosing that Interface "received a letter in November 2017 from the [SEC] requesting that the Company voluntarily provide information and documents in connection with an investigation into the Company's historical quarterly [EPS] calculations and rounding practices during the period 2014-2017";that "[t]he Company subsequently received subpoenas from the SEC in February 2018, July 2018 and April 2019 requesting additional documents and information"; and that "[i]n the fourth quarter of 2018, the Company conducted at the SEC's request an internal investigation into these and other related issues for seven quarters in 2015, 2016 and 2017."

On this news, Interface's stock price fell $1.43 per share, or 8.37%, to close at $15.66 per share on April 25, 2019.

Then, on September 28, 2020, the SEC announced the conclusion of its investigation into Interface's historical quarterly EPS calculations and rounding practices. Interface agreed to pay a $5 million fine to resolve the matter and was ordered to cease and desist from violating the federal securities laws. In the SEC's enforcement order issued that same day, the SEC also disclosed how, inter alia, "Interface employees caused Interface to produce documents in response to Commission investigative requests that were suggestive of contemporaneous support for journal entries that, in truth, did not exist at the time the entries were recorded," and had modified certain documents after the SEC's investigation began.

On this news, Interface's stock price fell $0.20 per share, or 3.13%, over the following trading sessions to close at $6.18 per share on September 29, 2020.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP Kevin Cooper, Esq.Gregory Stone, Director of Case and Financial AnalysisEmail: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.comTel: (800) 575-0735 or (212) 545-4774

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP