Update on the Distribution of Net Settlement Funds
The Court has approved the distribution of the net settlement funds to eligible Court-approved Claimants who qualified for an award under the Plan of Allocation. A distribution of funds has occurred on the following date/s:
February 13, 2025

Subsequent distributions will occur on a rolling basis, provided that net settlement funds are available.

If you have any questions, please contact the Claims Administrator whose contact information is listed here below:
877-415-0648, Info@MohawkIndustriesSecuritiesLitigation.com

The information contained on this website is only a summary of the information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Hearing; and (III) Motion for Attorneys' Fees and Litigation Expenses. Because this website is just a summary, you should review the Notice for additional details.

Summary of the Action and Settlement

In this securities class action, the Court-appointed Lead Plaintiff, Public Employees’ Retirement System of Mississippi (“Lead Plaintiff”), alleged that Mohawk Industries, Inc. (“Mohawk”) and its Chief Executive Officer, Jeffrey S. Lorberbaum (together with Mohawk, “Defendants”) violated the federal securities laws by making false and misleading statements and omissions about Mohawk’s product quality, sales, and revenues during the period from April 28, 2017 through July 25, 2019, inclusive (the “Class Period”).   A more detailed description of the Action is set forth in paragraphs 11-27 of the Notice.  Defendants have denied and continue to deny these allegations.  

Lead Plaintiff, on behalf of itself and the Court-certified Class (defined below), reached a settlement of the Action for $60,000,000 in cash that resolves all claims in the Action (the “Settlement”). On May 31 2023, the Court held a hearing to consider final approval of the Settlement and related matters. Following the hearing, the Court entered a judgment finally approving the Settlement, an order approving the Plan of Allocation for the proceeds of the Settlement, and an order awarding attorney's fees and litigation expenses. 

The Net Settlement Fund (i.e., the Settlement Amount, plus any and all interest earned thereon, less court-awarded attorneys’ fees and Litigation Expenses, Notice and Administration Costs, any required Taxes, and any other fees or costs approved by the Court) will be distributed in accordance with the Court-approved Plan of Allocation set forth in Appendix A to the Notice. 

If you are a member of the Class, you may be eligible for a payment from the Settlement.  The Class certified by the Court consists of:

all persons or entities who purchased or otherwise acquired publicly traded common stock of Mohawk during the period from April 28, 2017 through July 25, 2019, inclusive (the “Class Period”), and who were damaged thereby (the “Class”), except for certain persons and entities who are excluded from the Class by definition as set forth in paragraph 28 of the Notice.

If you are a member of the Class, in order to be potentially eligible to receive payment from the Settlement, you must have submitted a Claim Form in accordance with the instructions set forth in the Claim Form.  All Claim Forms have been processed and the Claims administration is complete. 

On October 31, 2024, Counsel filed a distribution motion seeking the distribution of funds as soon as possible. On January 8, 2025, the Court approved the distribution of the Net Settlement Fund to Court-approved claimants. The initial distribution of the Net Settlement Fund occurred on February 13, 2025. Subsequent distributions will occur on a rolling basis, provided that net settlement funds are available.  

How do I obtain more information?
 

Detailed information about the Settlement is contained in the Notice, a copy of which can be found in the menu at the top of this page. Additional information can also be obtained by contacting the Claims Administrator by calling toll-free 877-415-0648, emailing Info@MohawkIndustriesSecuritiesLitigation.com, or mailing a letter to:

Mohawk Industries Securities Litigation
c/o JND Legal Administration
P.O. Box 91096
Seattle, WA 98111

Inquiries should NOT be directed to the Court, the Clerk of the Court, or Defendants.