Trinity Industries, Inc. Wins at Fifth Circuit Court of Appeals
Fifth Circuit Reverses Judgment, Finds No False Claims Act Violation
Trinity Industries, Inc. (NYSE:TRN) announced today that on September 29, 2017, the United States Court of Appeals for the Fifth
Circuit (“Fifth Circuit”) has ruled that Trinity Industries, Inc. and Trinity Highway Products, LLC (together, the "Company") did
not commit fraud, reversing the District Court’s $682.4 million False Claims Act judgment and rendering judgment for the
Company.
The Company is pleased with the panel’s unanimous opinion reversing the judgment. As the Fifth Circuit noted, the federal
government has consistently reaffirmed the ET Plus® System meets all federal safety performance standards. This ruling confirms our
long-standing belief that no fraud was committed.
Please refer to the Company’s Form 8-K issued contemporaneously with this Press Release as well as Note 18 to the financial
statements in Trinity’s Form 10-K for the period ended December 31, 2016, and Form 10-Q for the period ended June 30, 2017, for
additional information about Joshua Harman, on behalf of the United States of America, Plaintiff/Relator v.
Trinity Industries, Inc., Defendant and the Company’s highway products and other litigation.
Information from the FHWA pertaining to the ET Plus® System may be found at: http://www.fhwa.dot.gov/guardrailsafety/ .
Additional facts and product information related to the ET Plus® System may be found at: www.etplusfacts.com.
COMPANY DESCRIPTION
Trinity Industries, Inc., headquartered in Dallas, Texas, is a diversified industrial company that owns complementary
market-leading businesses providing products and services to the energy, chemical, agriculture, transportation, and construction
sectors, among others. Trinity reports its financial results in five principal business segments: the Rail Group, the Railcar
Leasing and Management Services Group, the Inland Barge Group, the Construction Products Group, and the Energy Equipment Group. For
more information, visit: www.trin.net.
Trinity Highway Products, LLC is a subsidiary of Trinity Industries, Inc.
Some statements in this release, which are not historical facts, are “forward-looking statements” as defined by the Private
Securities Litigation Reform Act of 1995. Forward-looking statements include statements about Trinity's estimates, expectations,
beliefs, intentions or strategies for the future, and the assumptions underlying these forward-looking statements. Trinity uses the
words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “forecasts,” “may,” “will,” “should,” “guidance” and similar
expressions to identify these forward-looking statements. Forward-looking statements involve risks and uncertainties that could
cause actual results to differ materially from historical experience or our present expectations. For a discussion of such risks
and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk
Factors” and “Forward-Looking Statements” in the Company's Annual Report on Form 10-K for the most recent fiscal year.
Investors:
Trinity Industries, Inc.
Preston Bass, 214-631-4420
Director, Investor Relations
or
Media:
Trinity Industries, Inc.
Jack Todd, 214-589-8909
Vice President, Public Affairs
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