Company Website:
http://www.robbinsarroyo.com
SAN DIEGO & CLEVELAND -- (Business Wire)
Shareholder rights law firm Robbins Arroyo LLP announces
that a class action complaint was filed against TransDigm Group, Inc.
(NYSE: TDG) in the U.S. District Court for the Northern District of
Ohio, Eastern Division. The complaint is brought on behalf of all
purchasers of TransDigm securities between May 10, 2016 and March 21,
2017, for alleged violations of the Securities Exchange Act of 1934 by
TransDigm's officers and directors. TransDigm designs, produces, and
supplies aircraft components in the United States.
View this information on the law firm's Shareholder Rights Blog:
www.robbinsarroyo.com/shareholders-rights-blog/transdigm-group-inc-september-2017
TransDigm Accused of Engaging in Illicit Business Practices
According to the complaint, in TransDigm's public statements, the
company reported solid financial results and emphasized that its ability
to compete depended on its ability to provide competitive pricing.
However, TransDigm allegedly hid from investors that the company used
shell distributors to make noncompetitive government bids seem
competitive and evaded government oversight of its cost structure. On
January 20, 2017, Citron Research issued a report accusing TransDigm of
price gouging the U.S. government through a fraudulent and illegal
scheme. On this news, TransDigm's stock fell $24.86 per share, or nearly
10%, to close at $226.90 per share on January 20, 2017. On March 21,
2017, the office of U.S. Congressman Ro Khanna issued a press release
announcing that it had sent a letter to the Inspector General for the
Department of Defense requesting that it investigate TransDigm's
business practices. On this news, TransDigm's stock fell approximately
10% to close at $214.85 per share on March 22, 2017.
TransDigm Shareholders Have Legal Options
Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leonid Kandinov at
(800) 350-6003, LKandinov@robbinsarroyo.com,
or via the shareholder
information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170919006531/en/
Contacts:
Robbins Arroyo LLP
Leonid Kandinov
(619) 525-3990 or Toll Free
(800) 350-6003
LKandinov@robbinsarroyo.com
www.robbinsarroyo.com
Source: Robbins Arroyo LLP
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