STEVENSON, Md.--(BUSINESS WIRE)--
The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of Ohio on behalf of purchasers of TransDigm Group, Inc. (NYSE: TDG) (“TransDigm” or the “Company”) securities during the period between May 10, 2016 and January 19, 2017, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until October 10, 2017 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in TransDigm securities during the Class Period. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that TransDigm’s growth and profitability were artificially inflated as a result of its illegal business practices, the Company used exclusive distributors to make noncompetitive government bids seems competitive, and its subsidiaries failed to list TransDigm as a parent entity when submitting government bids.
According to the complaint, following a January 20, 2017 report disclosing that the Company uses multiple shell distributors that have no pricing power to avoid detection by making government bids seems competitive, the value of TransDigm shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in TransDigm securities purchased on or after May 10, 2016 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at [email protected] or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
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