Why Shares of Mohawk Industries Are Falling Today

Shares of Mohawk Industries (NYSE: MHK) fell more than 20.43% as of 11:30 a.m. on Thursday morning as Wall Street analysts weigh in on allegations of fraud at the carpeting and flooring manufacturer. In January, the Public Employees' Retirement System of Mississippi filed a lawsuit claiming accounting fraud at Mohawk. The suit did not get a lot of attention at the time, but new filings submitted in late June add significant details about the allegations and have gotten Wall Street's attention.