NEW YORK, May 12, 2015 /PRNewswire/ -- Faruqi & Faruqi,
LLP, a leading national securities law firm, is investigating
potential securities fraud at Trinity Industries Inc. ("Trinity" or
the "Company") (NYSE: TRN).
The investigation focuses on whether Trinity and its executives
violated federal securities laws by failing to disclose that the
Company changed the dimensions of its ET-Plus guardrail product in
2005 without informing the Federal Highway Administration
("FHWA").
On October 20, 2014, a federal
jury found Trinity liable for concealing information from the U.S.
government over modifications made to the Company's ET-Plus
guardrail systems. The jury found that the Company's violations had
caused the U.S. government to incur $175
million in damages, making Trinity potentially liable for
three times that amount. Additionally, several other states have
prohibited further purchases of the guardrail system citing safety
concerns.
On April 22, 2015, a Bloomberg
news report stated that "the U.S. Justice Department is conducting
a criminal investigation into the use of a highway guardrail system
linked to at least eight deaths, according to people familiar with
the matter, signaling a new wave of potential woes for manufacturer
Trinity Industries Inc." On this news, Trinity stock declined
$3.43 per share, over 9%, to close at
$32.82 per share on April 22, 2015.
On April 24, 2015, the Company
confirmed the initiation of the federal investigation in a
conference call with investors. On this news, Trinity stock
declined an additional $4.66 per
share, or 14%, to close at $28.70 per
share on April 24, 2015 on heavy
trading volume.
Request more information now by clicking here:
www.faruqilaw.com/TRN. There is no cost or obligation to
you.
Take Action
If you invested in Trinity stock or
options between February 16, 2012 and
April 21, 2015 and would like to
discuss your legal rights, visit www.faruqilaw.com/TRN. You
can also contact us by calling Richard
Gonnello toll free at 877-247-4292 or at 212-983-9330 or by
sending an e-mail to rgonnello@faruqilaw.com. Faruqi &
Faruqi, LLP also encourages anyone with information regarding
Trinity's conduct to contact the firm, including whistleblowers,
former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this
advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter.
We welcome the opportunity to discuss your particular case.
All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello,
Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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