Lawsuit filed for Investors in shares of Armstrong Flooring, Inc. (NYSE: AFI)

An investor, who purchased shares of Armstrong Flooring, Inc. (NYSE: AFI), filed a lawsuit over alleged violations of Federal Securities Laws by Armstrong Flooring, Inc.

Investors who purchased shares of Armstrong Flooring, Inc. (NYSE: AFI) have certain options and for certain investors are short and strict deadlines running. Deadline: January 14, 2020. NYSE: AFI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Lancaster, PA based Armstrong Flooring, Inc., together with its subsidiaries, designs, manufactures, sources, and sells resilient flooring products for use primarily in the construction and renovation of commercial, residential, and institutional buildings in North America and the Pacific Rim.

On November 5, 2019, Armstrong Flooring, Inc reported $165.6 million net sales for third quarter 2019, a nearly 21% decline year-over-year, and a net loss of $31.4 million. Armstrong Flooring, Inc also cut its full year 2019 guidance for adjusted EBITDA to a range of $20 million to $25 million, from prior guidance range of $46 million to $54 million.

The plaintiff claims that between March 6, 2018 and November 4, 2019, the Defendants failed to disclose to investors that the Company had engaged in channel stuffing to artificially boost sales, that the Company’s internal control over inventory levels was not effective, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Armstrong Flooring, Inc. (NYSE: AFI) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.