SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses In Excess Of $100,000 From Investment In Trinity Industr...
June 08 2015 - 5:42PM
Business Wire
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20150608006655/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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