LEAD PLAINTIFF DEADLINE IS JANUARY 14, 2020

NEW YORK, Nov. 20, 2019 (GLOBE NEWSWIRE) -- 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 Central District of California on behalf of investors that purchased or acquired the securities of Armstrong Flooring, Inc. ("Armstrong Flooring" or the "Company") (NYSE: AFI) between March 6, 2018 and November 4, 2019, inclusive (the "Class Period").

All investors who purchased shares of Armstrong Flooring, Inc. and incurred losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.

If you have incurred losses in the shares of Armstrong Flooring, Inc., you may, no later than January 14, 2020, 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 Armstrong Flooring, Inc.   

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The filed complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business,
operations and prospects. Specifically, 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.
  
  

On May 3, 2019, Armstrong Flooring's Chief Executive Officer abruptly resigned. On this news, the Company's stock price fell $1.75, nearly 12%, to close at $13.14 per share on May 3, 2019.

Subsequently, on November 5, 2019, prior to the opening of that day’s trading, Armstrong Flooring 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. The Company also cut its full year 2019 guidance for adjusted EBITDA to a range of $20 million to $25 million, from the prior guidance range of $46 million to $54 million, citing "larger distributor movements on inventory" than anticipated.

These surprising disclosures led to the Company's stock price falling $2.90 per share, or nearly 44%, to close at $3.70 per share on November 5, 2019.

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 Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

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