SAN DIEGO, May 4, 2015 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of shares of Trinity Industries Inc (NYSE:TRN) over alleged Violations of Federal Securities Laws by Trinity Industries in connection with certain allegedly false and misleading statements regarding its ET-Plus guardrail systems.
Investors, who purchased a significant amount of shares of Trinity Industries Inc (NYSE:TRN) between February 16, 2012 and April 21, 2015, AND/OR Investors who purchased any NYSE: TRN shares prior to February 2012 (including those who purchased NYSE TRN in 2005 or earlier) and continue to hold any of those shares, have certain options and for certain investors are short and strict deadlines running. Deadline: June 26, 2015. NYSE TRN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that Trinity Industries Inc. changed certain dimensions of the ET-Plus in 2005 without telling the Federal Highway Administration ("FHWA"), the government agency that certifies the safety of roadside hardware, and that as a result of the foregoing, Trinity Industries Inc's public statements were materially false and misleading at all relevant times.
On October 20, 2014, a federal jury found Trinity Industries Inc liable for hiding information from the U.S. government over modifications made to Company's ET-Plus guardrail systems.. The jury said those violations caused the U.S. government to incur $175 million in damages, making Trinity Industries Inc potentially liable for three times that amount in liability payments. Additionally, several other states have prohibited further purchases of the guardrail system citing safety concerns.
On April 22, 2015, a report stated that "the U.S. Justice Department is conducting a criminal investigation into the use of a highway guardrail system linked to at least eight deaths, according to people familiar with the matter, signaling a new wave of potential woes for manufacturer Trinity Industries Inc."
The lawsuit seeks to recover damages for certain Trinity Industries investors.
Those who purchased Trinity Industries Inc shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.