SAN FRANCISCO, Sept. 26, 2017 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP alerts investors in TransDigm Group Incorporated (NYSE:TDG) to the expanded class period in the pending securities class action. The new Class Period is May 10, 2016 to March 21, 2017. The Lead Plaintiff deadline is October 10, 2017.
If you purchased or otherwise acquired securities of TransDigm between May 10, 2016 and March 21, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/TDG
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing TDG@hbsslaw.com.
On January 20, 2017, Citron Research published a report entitled “Could TransDigm be the Valeant of the Aerospace Industry?” The report accuses TransDigm of price gouging the U.S. Government. According to Citron, the Company acquires airplane parts companies, proceeds to fire the employees of the newly acquired companies, and egregiously raises prices of products produced by the acquired companies.
This news drove the price of TransDigm shares down $24.86, or over 9.8%, to close at $226.90 per share on January 20, 2017.
Subsequently, on March 20, 2017, Congressman Ro Khanna requested the Acting Inspector General of the U.S. Department of Defense to investigate TransDigm’s business practices. This news drove the price of TransDigm shares down $13.15, or approximately 5.5%, to close at $224.79 on March 21, 2017.
More recently, on June 12, 2017, CNBC reported that Senator Elizabeth Warren similarly called for a Federal investigation into TransDigm’s business with the Federal government. This news drove the price of TransDigm shares down approximately 3% to close at $262.78 that day.
“TransDigm’s transparency when dealing with the Federal government and with its investors is certainly material to both constituents. We’re focused on whether the Federal investigation will commence and on prior TransDigm financial disclosures to its investors,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding TransDigm should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email TDG@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 11 offices across the country. 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. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 510-725-3000