Trinity Industries Inc. Shareholder Alert: Former SEC Attorney Willie Briscoe & Powers Taylor Investigate Possible Breaches o...
April 29 2015 - 12:07PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the
securities litigation firm of Powers Taylor LLP announce that a
federal class action lawsuit has been filed in the United States
District Court for the Northern District of Texas against Trinity
Industries Inc. (“Trinity”) (NYSE: TRN) and several officers and
directors for acts taken during the period of February 16, 2012 to
April 21, 2015 (the “Class Period”).
Based upon the allegations in the class action, the firms are
investigating additional legal claims against the officers and
Board of Directors of Trinity. If you are an affected Trinity
shareholder and want to learn more about the lawsuit or join the
action, contact Willie Briscoe at The Briscoe Law Firm, PLLC via
email at shareholders@thebriscoelawfirm.com, Patrick Powers at
Powers Taylor LLP via email at shareholder@powerstaylor.com, or
call toll free at (877) 728-9607. There is no cost or fee to
you.
According to the complaint, the defendants are alleged to have
violated certain provisions of the Securities Exchange Act of 1934.
Specifically, the complaint alleges, among other things, that
defendants issued false or misleading statements regarding its
business, operational and compliance policies. According to the
complaint, Trinity made false and/or misleading statements and/or
failed to disclose that it had changed certain dimensions of the
ET-Plus in 2005 without notifying the Federal Highway
Administration and that, as a result, its public statements were
materially false and misleading at all relevant times.
The New York Times published articles on October 12, 2014 and
October 14, 2014 concerning multiple states banning, or threatening
to ban, the use of guardrail heads manufactured by Trinity.
Immediately following both articles, Trinity stock price fell and
traded on unusually heavy volume. On October 20, 2014, a jury in a
whistleblower lawsuit found that Trinity deliberately withheld
information from the U.S. about cost-saving changes to its
guardrail system, which made it more dangerous. Trinity stock
prices again fell and traded on unusually heavy volume. Then, on
April 22, 2014, a Bloomberg article reported that Trinity was at
the center of a Federal Criminal Probe. Again, Trinity stock price
fell and traded on unusually heavy volume.
The Briscoe Law Firm, PLLC is a full service business
litigation, commercial transaction, and public advocacy firm with
more than 20 years of experience in complex litigation and
transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles
a variety of complex business litigation matters, including claims
of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
The Briscoe Law Firm, PLLCWillie Briscoe,
877-728-9607shareholders@thebriscoelawfirm.comorPowers Taylor
LLPPatrick Powers, 877-728-9607shareholder@powerstaylor.com
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