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LOS ANGELES, Aug. 26, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Garrett Motion, Inc. (NYSE: GTX) investors that the firm has initiated an investigation into alleged violations of securities laws, and may file a lawsuit on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, including eligibility for appointment as a class representative. Class representatives are appointed by the court to act as a fiduciary on behalf of other injured investors.
Garrett Motion Inc. operates as an automobile technology provider. The Company offers turbocharging, electric boosting, and automotive software solutions. Garrett Motion serves customers worldwide.
The investigation focuses on whether the Company misled investors regarding the Company’s balance sheet risks, specifically the Company’s liabilities and exposure to certain claims by Honeywell. On August 26, 2020, the Company disclosed, “Garrett's leveraged capital structure poses significant challenges to its overall strategic and financial flexibility and may impair its ability to gain or hold market share in the highly competitive automotive supply market, thereby putting Garrett at a meaningful disadvantage relative to its peers.”
On this news, the Company's share price fell significantly, causing economic harm to investors.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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