Law
Offices of Howard G. Smith reminds investors of the upcoming
deadline in the class action lawsuit filed 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”) (NYSE: TRN) between
February 16, 2012 and April 23, 2015, inclusive (the “Class Period”).
Trinity investors have until June 29, 2015 to file a motion to be
appointed as lead plaintiff in the shareholder lawsuit.
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 purchased shares of Trinity during the Class Period, have
information or would like to learn more about these claims, 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.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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