Hagens Berman Reminds Investors With Losses Over $50,000 in Trinity Industries, Inc. (NYSE: TRN) of June 29th Lead Plaintiff ...
May 26 2015 - 8:30AM
Hagens Berman Sobol Shapiro LLP, a national investor-rights law
firm, reminds investors with losses over $50,000 of the June 29,
2015 lead plaintiff deadline in a class action lawsuit filed
against Trinity Industries, Inc. (NYSE:TRN) (“Trinity Industries”
or “the Company”). The suit is pending in U.S. District Court for
the Northern District of Texas, and investors who purchased Trinity
Industries securities between February 16, 2012 and April 29, 2015,
(the “Class Period”) have until June 29, 2015 to move for lead
plaintiff. You do not need to move for lead plaintiff to be a
member of the Class. If your losses are less than $50,000, you are
still eligible to be a member of the class.
If you have significant losses in Trinity Industries securities
during the Class Period, you may contact Hagens Berman Partner Reed
Kathrein, who is leading the firm’s investigation, by calling (510)
725-3000, emailing TRN@hbsslaw.com or visiting
http://hb-securities.com/investigations/TRN. No class has been
certified in this case.
The complaint alleges that Defendants made false and/or
misleading statements and/or failed to disclose that Trinity
Industries changed certain dimensions of its highway safety rail
systems without telling the Federal Highway Administration
(“FHWA”), the government agency that certifies the safety of
roadside hardware.
On October 12, 2014, articles featured in The New York Times
reported that at least three states had banned the use of guardrail
heads manufactured by Trinity, and that the State of Virginia
threatened to remove guardrails sold by Trinity Industries unless
it performed additional safety tests. On October 20, 2014, a jury
found that Trinity Industries deliberately withheld information
from the FHWA 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 this news, shares of
Trinity fell $4.42, or over 12.3%, on unusually heavy volume, to
close at $31.42 on October 20, 2014.
Then on April 22, 2015, an article published by Bloomberg News
reported that Trinity Industries was at the center of a Federal
Criminal Probe. As a result of this news, shares of Trinity fell
$3.43, or over 9.4%, on unusually heavy volume, to close at $32.82
on April 22, 2015.
“Throughout the Class Period, Trinity insiders benefited at the
expense of shareholders,” said Hagens Berman partner Reed Kathrein.
“Worse, their failure to disclose the truth about their product put
members of the public in danger.”
If you were negatively impacted over $50,000 by your investment
in Trinity Industries securities between February 16, 2012 and
April 29, 2015, and would like to learn more about this lawsuit and
your ability to participate as a lead plaintiff, please contact us
for your no-cost evaluation.
Whistleblowers: Persons with non-public
information regarding Trinity Industries should consider their
options to help in the investigation or take advantage of the SEC
Whistleblower program. For more information, call Reed Kathrein at
(510) 725-3000 or email TRN@hbsslaw.com.
About Hagens Berman
Hagens Berman Sobol Shapiro LLP is an investor-rights
class-action law firm headquartered in Seattle, Washington with
offices in nine cities. The firm represents investors,
whistleblowers, workers and consumers in complex litigation. More
about the firm and its successes can be found at www.hbsslaw.com.
Read the firm’s Securities Newsletter at
http://www.hb-securities.com/newsletter. The firm’s blog is located
at www.meaningfuldisclosure.com.
For the latest news from Hagens Berman, visit
http://www.hbsslaw.com/newsroom or follow us on Twitter at
@hagensberman.
Reed Kathrein, (510) 725-3000
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