Feds Probe Mohawk Over Investor Lawsuit
Chattanooga, TN, July 15, 2020-"Federal prosecutors have issued subpoenas to Mohawk Industries and its CEO Jeff Lorberbaum in an investigation of claims that the company improperly inflated sales and profits,” reports the Chattanooga Times Free Press.
The company disclosed this week that it received the subpoenas from the U.S. Attorney's office on June 25 as part of an investigation of Mohawk finances by the U.S. Securities and Exchange Commission (SEC).
Mohawk has denied any wrongdoing and said "the company intends to vigorously defend itself in the lawsuit."
Our prior coverage of the lawsuit is available here.
Related Topics:Mohawk Industries