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On May 23, 2018 the Floor & Decor filed a Registration Statement with the SEC regarding the current financial condition of the Company. Each of the statements in the Registration Statement was materially false and misleading because, prior to the May 24, 2018 Secondary Offering, Floor & Decor directors knew, but failed to disclose, that the Company had already begun to experience declining sales trends that would ultimately result in the reduction of its fiscal 2018 sales and adjusted earnings per share guidance, which had been increased as recently as May 2018. As a result of this adverse information being withheld from the market, the price of the Company’s stock was artificially inflated during the Class Period, allowing Company insiders to sell more than 10.3 million shares of Floor & Decor common stock, including the shares sold in the May 24 Secondary Offering, for proceeds of more than $466 million.