RM LAW, P.C. announces an investigation on behalf of Interface, Inc. (NASDAQ: TILE) (“Interface” or the “Company”) investors concerning the Company and its officers’ possible violations of federal securities laws.
If you purchased shares of Interface and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
On April 24, 2019, Interface announced receipt of a letter in November 2017 from the U.S. Securities and Exchange Commission (”SEC”) requesting that the Company voluntarily provide information and documents in connection with an investigation into the Company’s historical quarterly earnings per share calculations and rounding practices during the period 2014-2017. Interface also reported receipt of subpoenas from the SEC in February 2018, July 2018 and April 2019 requesting additional documents and information. In the fourth quarter of 2018, at the SEC’s request, Interface conducted an internal investigation into these and other related issues for seven quarters in 2015, 2016 and 2017. Interface also announced that its Vice President and Chief Accounting Officer was placed on paid administrative leave from Interface after the Company learned that in 2018, in the process of collecting materials from 2015, 2016 and 2017 for production to the SEC, he added certain notes to those materials that were then produced to the SEC.
Following 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.