Investor Files Securities Fraud Class Action for Misleading Shareholders; The Law Offices of Timothy L. Miles Urges Interface Shareholders to Contact the Firm

Interface, Inc. (NASDAQ:TILE)

HENDERSONVILLE, TN, UNITED STATES, November 17, 2020 /EINPresswire.com/ -- The Law Offices of Timothy L. Miles, who has been leading the fight to protect shareholder rights for over 19 years, announces that a purchaser of Interface, Inc. (NASDAQ: TILE) filed a class action complaint against the Company and its officers and directors for alleged violations of the Securities & Exchange Act of 1934 between March 2, 2018 and September 28, 2020. The Interface class action lawsuit was commenced on November 12, 2020 in the Eastern District of New York and is captioned Swanson v. Interface, Inc., No. 20-cv-05518. Interface designs, produces and sells modular carpet products In the Americas, Europe and Asia-Pacific.

If you suffered a loss due to Interface's misconduct, click here.

Interface, Inc. (TILE) Misled Shareholders About its Internal Controls Over Financial Reporting

According to the complaint, throughout the relevant period, Interface failed to disclose that it had inadequate disclosure controls and procedures and internal controls over financial reporting.

On April 24, 2019, Interface filed a report on Form 8-K with the SEC disclosing that it had "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." The SEC announced the conclusion of its investigation into Interface's historical EPS calculations and rounding practices on September 28, 2020. The SEC's enforcement order disclosed how "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. Interface agreed to pay a $5 million fine to resolve the matter and was ordered to cease and desist violating the federal securities laws. On this news, the Company's stock fell 3.13% over two trading sessions to close at $6.18 on September 29, 2020.

Interface Shareholders Urged to Contact the Firm

If you purchased Interface securities, have information, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Timothy L. Miles, Esquire, at 615-587-7384, Toll-Free at 855-846-6529, or by email to tmiles@timmileslaw.com. If you inquire by email please include your mailing address, telephone number, and the number shares owned.


About Timothy L. Miles

Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely awarded the recognition of American’s Most Honored Lawyers 2020 – Top 1% by the American Registry. Mr. Miles was also recently selected by Martindale-Hubbell^® and ALM as a 2020 Top Ranked Lawyer and a 2020 Top Rated Litigator. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell^®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019-2020). Awards: Top Rated Litigator by Martindale-Hubbell^® and ALM (2019); Elite Lawyer of The South by Martindale-Hubbell^® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV^® Preeminent™ Rating by Martindale-Hubble^® (2014-2020); PRR AV Preeminent Rating on Lawyers.com (2018-2020); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble^® 2015); Lifetime Achievement Award by Premier Lawyers of America (2019); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for (Avvo 2017-2020). Mr. Miles has authored numerous publications advocating for shareholdings including most recently: Free Portfolio Monitoring Services Offered by Plaintiff Securities Firms Provides Significant Benefits To Investors (Timothy L. Miles, Dec. 3, 2019).

Contact:
Timothy L. Miles, Esq.
Law Offices of Timothy L. Miles
124 Shiloh Ridge
Hendersonville, TN 37075
Telephone: (855-846-6529)
Email: tmiles@timmileslaw.com Website: www.timmileslaw.com
SOURCE: The Law Offices of Timothy L. Miles


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