INVESTOR NOTICE: Goldberg Law PC Announces Securities Class Action Lawsuit Against Eaton Corp. plc & Encourages Investors Wit...
July 26 2016 - 1:55PM
Business Wire
Goldberg Law PC (www.Goldberglawpc.com) announces that a class
action lawsuit was filed against Eaton Corporation plc (“Eaton” or
the “Company”) (NYSE: ETN) and certain of its senior executives
(the “Defendants”) for violations of Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934 and U.S. Securities and
Exchange Commission Rule 10b-5.
Investors who purchased or otherwise acquired shares between
November 13, 2013 and July 28, 2014 inclusive (the “Class Period”)
are encouraged to contact the firm in advance of the September 23, 2016 lead plaintiff motion
deadline.
If you are a shareholder who suffered a loss during the Class
Period, click here to participate. In addition, we advise
you to contact Michael Goldberg or Brian Schall, of Goldberg Law
PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at
800-977-7401, to discuss your rights without cost to you. You can
also reach us through the firm’s website at
http://www.Goldberglawpc.com, or by email at
info@goldberglawpc.com.
The class in this case has not yet been certified, and until
certification occurs, you are not represented by an attorney. If
you choose to take no action, you can remain an absent class
member.
According to the Complaint, the Defendants issued false and
misleading statements about the Company’s ability to divest its
automobile-part manufacturing business. For most of its 100-year
history, Eaton’s primary focus was vehicle component manufacturing.
Since 2008, the Company shifted away from its vehicle business and
expanded its electrical component businesses. In 2012 Eaton engaged
in a merger (the “Merger”) with Irish-headquartered Cooper
Industries plc, which reincorporated the Company in Ireland. After
the Merger, Eaton executives assured investors of the continued
feasibility of divesting the automobile-part manufacturing business
on a tax-free basis. This kept the Eaton stock price artificially
inflated. On July 29, 2014, Eaton’s Chief Executive Officer,
Alexander M. Cutler, informed investors that the Company could not
feasibly divest the automobile-part business until late 2017
because of tax law restrictions related to the Merger. Mr. Cutler
further revealed that the Company was “well aware” of these
restrictions “all along.” When this news was announced, Eaton’s
stock fell in value.
Goldberg Law PC represents shareholders around the world and
specializes in securities class actions and shareholder rights
litigation.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160726006331/en/
Goldberg Law PC, Los AngelesMichael Goldberg, Esq.,
800-977-7401Brian Schall, Esq.,
800-977-7401info@goldberglawpc.comwww.Goldberglawpc.com
Eaton (NYSE:ETN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Eaton (NYSE:ETN)
Historical Stock Chart
From Apr 2023 to Apr 2024