INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation on Behalf of Honeywell International Inc. Investors
(HON)
Law Offices of Howard G. Smith announces an investigation on behalf of Honeywell International Inc. (“Honeywell” or the
“Company”) (NYSE:
HON) investors concerning the Company and its officers’ possible violations of federal securities laws.
The investigation concerns whether Honeywell made false and misleading statements about its accounting for Bendix
asbestos-related liabilities. On August 23, 2018, Honeywell announced that "the Company's Bendix asbestos-related liability is
estimated to be $1,693 million as of June 30, 2018. This is $1,083 million higher than the Company's prior
estimation." Honeywell further advised investors that "Bendix asbestos-related insurance assets are estimated to be $187
million as of June 30, 2018, which is $65 million higher than the Company's prior estimate." Then,
on October 19, 2018, Honeywell filed a quarterly report with the U.S. Securities and Exchange Commission (the "SEC") for the
quarter ended September 30, 2018. In its quarterly report, Honeywell stated that "the SEC's Division of Corporate Finance
had reviewed Honeywell's prior accounting for liability for unasserted Bendix-related asbestos claims" and that
"[o]n September 13, 2018, following completion of Corporation Finance's review, the SEC Division of Enforcement advised that
it has opened an investigation related to this matter." On this news, shares of Honeywell stock fell $1.72 per share, or
1.11%, to close at $153.47 on October 19, 2018, thereby injuring investors.
If you purchased Honeywell securities, 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
www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
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