NEW YORK, Feb. 11, 2016 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Aerojet Rocketdyne Holdings, Inc. (“Aerojet” or the “Company”) (NYSE:AJRD) and certain of its officers. The class action, filed in United States District Court, Central District of California, is on behalf of a class consisting of all persons or entities who purchased Aerojet securities between October 15, 2013 and February 1, 2016 inclusive (the “Class Period”). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).
If you are a shareholder who purchased Aerojet securities during the Class Period, you have until April 11, 2016 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
Aerojet designs, develops, manufactures, and sells aerospace and defense products and systems in the United States. The company operates in two segments, Aerospace and Defense, and Real Estate.
The Complaint alleges that throughout the Class Period, Defendants issued false and misleading statements to investors and/or failed to disclose that: (1) the purchase accounting for contracts acquired as part of the acquisition of the Pratt & Whitney Rocketdyne division from United Technologies Corporation in the quarter ended August 31, 2013 was erroneous; (2) the accounting for changes or modifications to one of the acquired Rocketdyne Business contracts beginning in the quarter ended February 28, 2014 was erroneous; and (3) as a result, Defendants’ statements about Aerojet’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com