Law Offices of Howard G. Smith Announces Investigation on Behalf of Investors of Autoliv, Inc.
Law Offices of Howard G. Smith announces that it is investigating
potential claims against Autoliv, Inc. (“Autoliv” or the “Company”)
(NYSE:ALV) concerning possible violations of federal securities laws.
The investigation focuses on allegations that certain statements issued
by Autoliv between October 26, 2010 and August 1, 2011 were false and
misleading regarding Autoliv’s business practices and product pricing.
Autoliv is based in Stockholm, Sweden, and through its subsidiaries
engages in the development, manufacture and supply of automotive safety
systems to the automotive industry. The investigation is related to
allegations that the Company engaged in wrongful anti-competitive
business practices with other automotive industry suppliers, which were
designed to control the market prices of the products sold by Autoliv
and others, thereby causing Autoliv stock to trade at artificially
inflated prices and subjecting the Company to material undisclosed
risks, including monetary and reputational risks.
In early 2011, a United States Department of Justice investigation of
Autoliv for potential antitrust violations was followed by a June 2011
raid of Autoliv’s German subsidiary by antitrust authorities of the
European Commission seeking evidence of anti-competitive misconduct.
News of the raid and the Company’s disclosure that it had already spent
more than $4 million on legal fees caused the price of Autoliv stock to
plummet below $62 per share on August 2, 2011.
If you purchased Autoliv shares between October 26, 2010 and August 1,
2011, if you have information or would like to learn more about these
claims, or if you wish to discuss these matters or have any questions
concerning this announcement or your rights or interests with respect to
these matters, please contact Howard G. Smith, Esquire, of Law Offices
of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania
19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by
email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.