CLASS ACTION UPDATE for HON, EIX, ATUS and CMCM: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

Globe Newswire 6-Dec-2018 4:37 PM

NEW YORK, Dec. 06, 2018 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the links provided. There is no cost or obligation to you.

Honeywell International Inc. (NYSE:HON)
Class Period:
February 9, 2018 - October 19, 2018
Lead Plaintiff Deadline: December 31, 2018
Join the action: https://www.zlk.com/pslra-1/honeywell-international-inc-loss-form?wire=3

About the lawsuit: Throughout the class period, Honeywell International Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) Honeywell's Bendix Friction Materials ("Bendix") asbestos-related liability was greater than initially reported; (2) the Company 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. 

Honeywell previously owned Bendix, which used asbestos in its brake- and clutch-pad products until 2001; the Company sold Bendix in 2014. On August 23, 2018, Honeywell announced it had "revised its method for reasonably estimating its liability for unasserted Bendix asbestos-related claims by considering the epidemiological projections through 2059 of future incidence of Bendix asbestos-related disease. Using this method, 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 which applied a five-year horizon when estimating the liability for unasserted Bendix asbestos-related claims. The 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."

To learn more about the Honeywell International Inc. class action contact jlevi@levikorsinsky.com.

Edison International (NYSE:EIX)
Class Period:
February 23, 2016 - November 12, 2018
Lead Plaintiff Deadline: January 15, 2019
Join the action: https://www.zlk.com/pslra-1/edison-international-loss-form?wire=3

About the lawsuit: During the class period, Edison International allegedly made materially false and/or misleading statements and/or failed to disclose that: (i) the Company failed to maintain electricity transmission and distribution networks in compliance with safety requirements and regulations promulgated under state law; (ii) consequently, the Company was in violation of state law and regulations; (iii) the Company's noncompliant electricity networks created a significantly heightened risk of wildfires in California; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

To learn more about the Edison International class action contact jlevi@levikorsinsky.com.

Altice USA, Inc. (NYSE:ATUS)
Class Period:
Pursuant and/or traceable to the June 2017 Initial Public Offering
Lead Plaintiff Deadline: January 18, 2019
Join the action: https://www.zlk.com/pslra-1/altice-usa-inc-loss-form?wire=3

The complaint alleges that the Offering Documents issued pursuant to the IPO failed to disclose and/or misstated material information, including that: (1) "The Altice Way" proprietary growth model previously developed in Europe and described in the Offering Documents as a means to achieve superior margin performance was falsely touting Altice's capacity to face already existing highly competitive environments and ever-changing consumer behaviors; (2) Altice was suffering from aggressively growing competition both in Europe and the United States, directly causing negative and decelerating revenue and EBITDA growth and impacting Altice's market share; (3) specifically, Altice was suffering from mismanaged rate events, regulatory compliance and poorly managed network and customer care both in its France and Portugal segments, thereby impacting its customer base and churn rate; (4) Altice USA could not simply replicate the "The Altice Way" in the U.S.; and (5) as a result, Altice USA's Offering Documents were materially misleading at all relevant times. 

To learn more about the Altice USA, Inc. class action contact jlevi@levikorsinsky.com.

Cheetah Mobile Inc. (NYSE:CMCM)
Class Period:
April 26, 2017 - November 27, 2018
Lead Plaintiff Deadline: January 29, 2019
Join the action: https://www.zlk.com/pslra-1/cheetah-mobile-inc-loss-form?wire=3

About the lawsuit: Cheetah Mobile Inc. allegedly made materially false and/or misleading statements during the class period and/or failed to disclose that: (1) Cheetah Mobile's apps had undisclosed imbedded features which tracked when users downloaded new apps; (2) Cheetah Mobile used this data to inappropriately claim credit for having caused the downloads; (3) the foregoing features, when discovered, would foreseeably subject Cheetah Mobile's apps to removal from the Google Play store; (4) accordingly, Cheetah Mobile's revenues during the relevant period were in part the product of improper conduct and thus unsustainable; and (5) as a result, Cheetah Mobile's public statements were materially false and misleading at all relevant times.

To learn more about the Cheetah Mobile Inc. class action contact jlevi@levikorsinsky.com.

You have until the lead plaintiff deadlines to request the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

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