Glancy Binkow & Goldberg LLP announces that it has filed a class action
lawsuit in the United States District Court for the Northern District of
Texas on behalf of a class (the “Class”) of purchasers of the securities
of Trinity Industries, Inc. (“Trinity” or the “Company”) (Nasdaq: TRN)
between February 19, 2014 and April 23, 2015, inclusive (the “Class
Period”). Shareholders have until June 29, 2015 to file a motion to be
appointed as lead plaintiff in the shareholder lawsuit.
Please contact Lesley Portnoy at 888-773-9224 or 310-201-9150, or at shareholders@glancylaw.com
to discuss this matter. If you inquire by email, please include your
mailing address, telephone number, and number of shares purchased.
Trinity is a diversified industrial company that owns a variety of
businesses that provides products and services to the energy,
transportation, chemical, and construction sectors.
The Complaint alleges that throughout the Class Period, Defendants made
false and/or misleading statements and/or failed to disclose that: (1)
Trinity engaged in cost-cutting alterations to its ET-Plus guardrails;
(2) the safety of its units was compromised as a result of the
alterations; (3) the crash tests on Trinity’s products may have been
flawed; and (4) Trinity faces additional civil and criminal liabilities
as a result of the flawed crash tests. As a result of the foregoing,
Defendants’ statements about Trinity’s business, operations, and
prospects, were false and misleading and/or lacked a reasonable basis in
that the Company’s liabilities were understated, and its financial
projections were overstated
After the market closed on April 21, 2015, an article published on Bloomberg
stated that the U.S. Justice Department is investigating the Federal
Highway Agency’s support of Trinity’s highway guardrail system. On this
news, Trinity shares declined $3.43 per share, over 9%, to close at
$32.82 per share on April 22, 2015. On April 24, 2015, the Company
confirmed the initiation of the federal investigation in a conference
call with investors. On this news, Trinity shares declined an additional
$4.66 per share, or 14%, to close at $28.70 per share on April 24, 2015.
If you are a member of the Class described above, you may move the Court
no later than June 26, 2015, to serve as lead plaintiff, if you meet
certain legal requirements. To be a member of the Class you need not
take any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. If you wish
to learn more about this action, or if you have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Lesley Portnoy, Esquire, of Glancy Binkow &
Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles,
California 90067, at (310) 201-9150, by e-mail to shareholders@glancylaw.com,
or visit our website at http://www.glancylaw.com.
If you inquire by email, please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Copyright Business Wire 2015