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MHK.US

id: 611

Mohawk Industries (MHK) Investors $60M Settlement

The settlement funds have been distributed to claimants.

$60,000,000

Cash Settlement

N.D. Georgia

Court

20-CV-00005

Case number

04/28/2017

Class period Start

07/25/2019

Class period End

07/05/2023

Claim deadline

Mohawk Industries (MHK) agreed to pay $60 million to settle a securities class action lawsuit to avoid further litigation.

The Complaint alleged that Defendants made false and misleading statements about Mohawk's sales growth and the demand for the Company's conventional flooring products throughout the Class Period. They falsely attributed the increases in the Company's accounts receivable and inventory levels to external factors such as rising raw material costs and inflation while reassuring investors about them.

All persons or entities who purchased or otherwise acquired publicly traded common stock of Mohawk during the period from April 28, 2017, through July 25, 2019, may be entitled to payouts.

Case Type

US Securities Class Action

Case Status

Disbursed

Alleged Offence

Other

Suspected Party

Other

Security Type

Stocks

Trade Direction

Long

Payout per Share

0.94

Filing date

01/03/2020

Plaintiffs

Public Employees' Retirement System of Mississippi

Attorneys

Bernstein Litowitz Berger & Grossmann LLP (New York, NY), Bondurant Mixson & Elmore, LLP (Atlanta, GA), Davidson Bowie, PLLC (Ridgeland, MS)

Defendants

Jeffrey S. Lorberbaum

Judge

Hon. Eleanor L. Ross

Administrator

JND Legal Administration

Court hearing date

05/31/2023

Exclusion deadline

05/10/2023

Objection deadline

05/10/2023

Hearing deadline

05/10/2023

Trades matching type

FIFO

Disbursement date

01/08/2025

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