An investigation for investors in Armstrong Flooring, Inc. (NYSE: AFI) shares over potential securities laws violations by Armstrong Flooring, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 11/18/2019 -- Armstrong Flooring, Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Armstrong Flooring, Inc. (NYSE: AFI), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Armstrong Flooring, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
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. Armstrong Flooring, Inc. reported that its annual Total Revenue declined from over $1.13 billion in 2017 to $782.2 million in 2018 and that its Net Loss increased from $41.8 million in 2017 to $163.00 million in 2018.
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.
Shares of Armstrong Flooring, Inc. (NYSE: AFI) declined from $20.46 per share in September 2018 to as low as $3.58 per share on November 5, 2019.
Those who purchased shares of Armstrong Flooring, Inc. (NYSE: AFI) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , 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, investigation, and/or settlements are not filed/reached and/or 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.