Glancy
Prongay & Murray LLP 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.
Investors who purchased shares of Trinity during the Class Period are
encouraged to 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.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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