BENSALEM, Pa. -- (Business Wire)
Law Offices of Howard G. Smith announces that a class action lawsuit has
been filed on behalf of investors that purchased Honeywell International
Inc. (“Honeywell” or the “Company”) (NYSE: HON)
securities between February 9, 2018 and October 19, 2018, inclusive
(the “Class Period”). Honeywell investors have until January 2,
2019 to file a lead plaintiff motion.
Investors suffering losses on their Honeywell investments are encouraged
to contact the Law Offices of Howard G. Smith to discuss their legal
rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
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
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.
The complaint filed in this class action alleges that Defendants
throughout the Class Period made false and/or misleading statements
and/or failed to disclose that: (1) Honeywell's Bendix asbestos-related
liability was greater than initially reported; (2) Honeywell maintained
improper accounting practices in connection with its Bendix
asbestos-related liability; and (3) as a result, Honeywell's public
statements were materially false and misleading at all relevant times.
If you purchased shares of Honeywell, 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 email@example.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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181108006103/en/
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
Source: Law Offices of Howard G. Smith
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