Deadline Alert: Glancy Prongay & Murray LLP Reminds Trinity Industries, Inc. Investors Of Upcoming Deadline
June 04 2015 - 11:00AM
Business Wire
Glancy Prongay & Murray LLP reminds investors of the
upcoming deadline in the class action lawsuit 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.
Investors who purchased shares of Trinity during the Class
Period are encouraged to contact Lesley Portnoy, at (888) 773-9224
or (310) 201-9150, or at shareholders@glancylaw.com to discuss this
matter. If you inquire by email please include your mailing
address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20150604005771/en/
Glancy Prongay & Murray LLP1925 Century Park East, Suite
2100Los Angeles, CA 90067Lesley PortnoyCasey Sadler(310)
201-9150(888)
773-9224shareholders@glancylaw.comwww.glancylaw.com
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