- Mohawk Industries (NYSE:MHK) has entered into an agreement with plaintiffs to resolve the previously disclosed securities class action lawsuit.
- In exchange for dismissal and a full release of claims against the defendants, the parties reached an agreement to settle the Securities Class Action for $60M, of which a significant portion is covered by insurance.
- The settlement of the Securities Class Action is expected to be submitted for preliminary approval by the court.
- The company expects Q4 adjusted EPS between $1.27 and $1.31 (vs. consensus of $1.46), excluding any restructuring or other one-time charges.
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