SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Trinity Industr...
May 04 2015 - 11:24AM
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been
commenced in the United States District Court for the Northern
District of Texas on behalf of purchasers of Trinity Industries
Inc. (“Trinity” or the “Company”) (NYSE:TRN) securities during the
period between February 16, 2012 and April 21, 2015, inclusive (the
“Class Period”). Investors who wish to become proactively
involved in the litigation have until June 29, 2015 to seek
appointment as lead plaintiff.
If you have suffered a loss from investment in
Trinity securities purchased on or after February 16, 2012 and held
through the revelation of negative information during and/or at the
end of the Class Period, as described below, and would like to
learn more about this lawsuit and your ability to participate as a
lead plaintiff, without cost or obligation to you, please visit our
website at
http://www.browerpiven.com/currentsecuritiescases.html. You
may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. No class has yet been certified in the above
action. Members of the Class will be represented by the lead
plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you
and the Class, you must apply to be appointed lead plaintiff and be
selected by the Court. The lead plaintiff will direct the
litigation and participate in important decisions including whether
to accept a settlement for the Class in the action. The lead
plaintiff will be selected from among applicants claiming the
largest loss from investment in Company securities during the Class
Period. Brower Piven also encourages anyone with information
regarding the Company’s conduct during the period in question to
contact the firm, including whistleblowers, former employees,
shareholders and others.
The complaint accuses the defendants of
violations of the Securities Exchange Act of 1934 by virtue of the
defendants’ failure to disclose during the Class Period
that Trinity changed certain dimensions of the ET-Plus
guardrail system in 2005 without telling the Federal Highway
Administration, the government agency that certifies the safety of
roadside hardware.
According to the complaint, following
an October 12, 2014 article in the New York Times,
reporting that at least three states had banned the use of
guardrail heads manufactured by Trinity, an October 14,
2014 New York Times article reporting that the State of
Virginia threatened to remove guardrails sold by Trinity unless it
performed additional safety tests, an October 20, 2014 jury
determination that Trinity deliberately withheld information from
the U.S. about cost-saving changes to its highway guardrail system
which made it more dangerous, ruling the company defrauded the
government by $175 million as a result of a whistleblower lawsuit
which claimed that Trinity made secret design changes that
transformed one of its products into a potentially lethal highway
hazard, falsely passing off the product as eligible for federal
funding, and an April 22, 2015 Bloomberg
News reporting that Trinity was at the center of a Federal
Criminal Probe, the value of Trinity shares declined
significantly.
Attorneys at Brower Piven have extensive
experience in litigating securities and other class action cases
and have been advocating for the rights of shareholders since the
1980s. If you choose to retain counsel, you may retain Brower
Piven without financial obligation or cost to you, or you may
retain other counsel of your choice. You need take no action
at this time to be a member of the class.
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
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