An investigation on behalf of investors of Flexsteel Industries, Inc. (NASDAQ: FLXS) shares over potential securities laws violations by Flexsteel Industries, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Flexsteel Industries, Inc. (NASDAQ: FLXS) concerning whether a series of statements by Flexsteel Industries, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Dubuque, IA based Flexsteel Industries, Inc., together with its subsidiaries, operates as a manufacturer, importer, and online marketer of upholstered and wooden furniture for residential and contract markets in the United States. Flexsteel Industries, Inc. reported that its Total Revenue declined from $443.58 million for the 12 months period that ended on June 30, 2018 to $366.92 million for the 12 months period that ended on June 30, 2020, and that its Loss before interest and taxes decreased over those respective time periods from $42.6 million to $33.67 million.

Shares of Flexsteel Industries, Inc. (NASDAQ: FLXS) closed on November 2, 2020, at $29.69 per share.