INVESTOR ALERT: The Law Offices of Howard G. Smith Announces Class Action Lawsuit On Behalf Of Trinity Industries, Inc. Inves...
May 14 2015 - 10:27AM
Business Wire
Law Offices of Howard G. Smith announces that a class action
lawsuit has been filed in the United States District Court for the
Northern District of Texas on behalf of a class (the “Class”) of
purchasers of the securities of Trinity Industries, Inc.
(“Trinity” or the “Company”) (NYSE: TRN) between February 16, 2012
and April 23, 2015, inclusive (the “Class Period”). Trinity
investors have until June 29, 2015 to file a motion to be appointed
as lead plaintiff in the shareholder lawsuit.
Trinity is a diversified industrial company that owns a variety
of businesses that provides products and services to the energy,
transportation, chemical, and construction sectors.
The Complaint alleges that throughout the Class Period,
Defendants made false and/or misleading statements and/or failed to
disclose that: (1) Trinity engaged in cost-cutting alterations to
its ET-Plus guardrails; (2) the safety of its units was compromised
as a result of the alterations; (3) the crash tests on Trinity’s
products may have been flawed; and (4) Trinity faces additional
civil and criminal liabilities as a result of the flawed crash
tests. As a result of the foregoing, Defendants’ statements about
Trinity’s business, operations, and prospects, were false and
misleading and/or lacked a reasonable basis in that the Company’s
liabilities were understated, and its financial projections were
overstated.
After the market closed on April 21, 2015, an article published
on Bloomberg stated that the U.S. Justice Department is
investigating the Federal Highway Agency’s support of Trinity’s
highway guardrail system. On this news, Trinity shares 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 shares declined an additional $4.66 per share,
or 14%, to close at $28.70 per share on April 24, 2015.
If you purchased shares of Trinity during the Class Period, have
information or would like to learn more about these claims, or have
any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Howard G.
Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol
Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215)
638-4847, toll-free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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