SAN DIEGO, June 4, 2013 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a deadline to get actively involved is coming up on June 17, 2013 in the lawsuit filed on behalf of certain investors in shares Autoliv Inc. (ALV) over alleged Violations of Federal Securities Laws by Autoliv Inc. in connection with certain allegedly false and misleading statements made between October 26, 2010 and August 1, 2011.
If you purchased a significant amount of common stock of Autoliv Inc. (ALV) between and / or if you purchased ALV shares prior in October 2010 and currently hold any of those shares, you have certain options and you should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The plaintiff alleges that prior to and between October 26, 2010 and August 1, 2011, Autoliv Inc. allegedly engaged in wrongful anti-competitive business practices with other automotive industry suppliers.
The plaintiff says that these practices were designed to control the market prices of the products sold by Autoliv Inc. and others and as a result, Autoliv Inc. reported quarter after quarter of "record" gross margins and earnings during between October 26, 2010 and August 1, 2011, causing artificial inflation in its stock price and seemingly justifying the payment of millions of dollars worth of salary increases and non-equity incentive awards to the Company's executives.
The plaintiff further claims that by February 2011, the United States Department of Justice ("DOJ") had begun investigating Autoliv's anti-competitive practices and potential antitrust violations. On June 6, 2012, the DOJ announced that Autoliv had agreed to plead guilty to price fixing of automobile parts installed in U.S. cars and to pay a $14.5 million criminal fine.
The plaintiff says that in so doing, Autoliv admitted to its role in a conspiracy to fix prices of seatbelts, airbags and steering wheels installed in U.S. cars to one automobile manufacturer and a separate conspiracy to fix prices of seatbelts to another car manufacturer.
Shares of Autoliv Inc. (ALV) declined from over $82 per share in January 2011 to as low as $47.70 in September 2011.
The plaintiff seeks to recover damages.
Those who purchased shares of Autoliv Inc. have certain options and should contact the Shareholders Foundation.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.