Marketwire 11-Aug-2017 10:03 AM
BOCA RATON, FL -- (Marketwired) -- 08/11/17 -- Saxena White P.A. has filed a securities fraud class action lawsuit in the United States District Court for the Northern District of Ohio against TransDigm Group, Inc. ("TransDigm" or the "Company") (NYSE: TDG) on behalf of investors who purchased or otherwise acquired the common stock of the Company between May 10, 2016 and January 19, 2017, inclusive (the "Class Period").
TransDigm designs, produces, and supplies aircraft components to customers around the globe. The Company is incorporated in Delaware and maintains its principal executive offices in Cleveland, Ohio.
The Complaint brings forth claims for violations of the Securities Exchange Act of 1934. The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects.
Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) TransDigm's growth and profitability were artificially inflated as a result of its illegal business practices; (2) the Company used exclusive distributors to make noncompetitive government bids seems competitive; (3) TransDigm subsidiaries failed to list TransDigm as a parent entity when submitting government bids; and (4) as a result of the foregoing, Defendants' statements about TransDigm's business, operations, and prospects were false and misleading and/or lacked a reasonable basis. As a result of this fraudulent scheme, Defendants were able to artificially inflate the Company's financials throughout the Class Period.
If you purchased TransDigm common stock during the Class Period of May 10, 2016 and January 19, 2017 and wish to apply to be the lead plaintiff in this action, a motion on your behalf must be filed with the Court by no later than October 10, 2017. You may contact Saxena White P.A. to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. Please note that you may also retain counsel of your choice and need not take any action at this time to be a class member.
Saxena White P.A., with offices in Florida, New York, and Massachusetts, concentrates its practice on prosecuting securities fraud and complex class actions on behalf of institutions and individuals. Currently serving as lead counsel in numerous securities fraud class actions nationwide, the firm has recovered hundreds of millions of dollars on behalf of injured investors and is active in major litigation pending in federal and state courts throughout the United States.
Source: Saxena White P.A.