CLASS ACTION UPDATE for FSCT, XYF and MHK: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, NY / ACCESSWIRE / January 8, 2020 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

FSCT Shareholders Click Here: https://www.zlk.com/pslra-1/forescout-technologies-inc-loss-form?prid=5210&wire=1
XYF Shareholders Click Here: https://www.zlk.com/pslra-1/x-financial-loss-form?prid=5210&wire=1
MHK Shareholders Click Here: https://www.zlk.com/pslra-1/mohawk-industries-inc-loss-form?prid=5210&wire=1

* ADDITIONAL INFORMATION BELOW *

Forescout Technologies, Inc. (NASDAQ:FSCT)

FSCT Lawsuit on behalf of: investors who purchased February 7, 2019 – October 9, 2019
Lead Plaintiff Deadline: March 2, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/forescout-technologies-inc-loss-form?prid=5210&wire=1

According to the filed complaint, during the class period, Forescout Technologies, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Forescout was experiencing significant volatility with respect to large deals and issues related to the timing and execution of deals in the Company's pipeline, especially in Europe, the Middle East, and Africa; (ii) the foregoing was reasonably likely to have a material negative impact on the Company's financial results; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

X Financial (NYSE:XYF)

XYF Lawsuit on behalf of: investors who purchased X Financial American Depositary Shares pursuant and/or traceable to the Company's September 19, 2018 initial public offering.
Lead Plaintiff Deadline: February 7, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/x-financial-loss-form?prid=5210&wire=1

According to the filed complaint, (i) the Company's total loan facilitation amount was not growing, but rather was contracting; (ii) the number of investors actively using X Financial's platform was shrinking; (iii) demand from small- and medium-sized enterprises for the Company's preferred loans was plummeting; (iv) the Company's preferred loans had performed so poorly that it had begun drastically scaling back its preferred loans in the first quarter of 2018, several months before the initial public offering ("IPO"), and was in the process of phasing out such loans completely; (v) demand for the Company's card loans was also plummeting; (vi) the revenue and loan facilitation growth provided in the registration statement leading up to the IPO was achieved by relaxed credit and due diligence standards, under which the Company had underwritten tens of millions of dollars' worth of poor quality loans that suffered from a disproportionately high risk of default as compared to the Company's earlier loan vintages; (vii) the Company was suffering from accelerated delinquency rates from poor quality loans that it had underwritten in the first, second, and third quarters of 2018, which had caused the Company's delinquency rate to sharply rise; (viii) the Company's product mix had significantly deteriorated; (ix) the Company's net revenue was on track to decline by 22% during the third quarter of 2018; and (x) as a result, the Registration Statement was materially false and/or misleading and failed to state information required to be stated therein.

Mohawk Industries, Inc. (NYSE:MHK)

MHK Lawsuit on behalf of: investors who purchased April 28, 2017 – July 25, 2019
Lead Plaintiff Deadline: March 3, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/mohawk-industries-inc-loss-form?prid=5210&wire=1

The filed complaint alleges that, faced with slowing demand for its conventional flooring products, the Company engaged in a scheme to inflate its revenues and earnings by booking fictitious sales of those products. This practice is known as channel stuffing and was used by Mohawk to hide severely declining demand for conventional flooring products. Throughout the Class Period, Defendants made false and/or misleading statements about Mohawk's sales growth and the demand for the Company's conventional flooring products. Defendants also reassured investors about Mohawk's increasing accounts receivable and inventory levels by falsely attributing those increases to external factors like rising raw material costs and inflation. As a result of these misrepresentations, shares of Mohawk's common stock traded at artificially inflated prices during the Class Period.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP

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