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NEW YORK, Sept. 15, 2017 -- Safirstein Metcalf LLP announces that that a class action lawsuit has been filed against TransDigm Group Incorporated ("TransDigm" or the "Company") (NYSE:TDG) and certain of its officers, on behalf of shareholders who purchased TransDigm securities between May 10, 2016 and January 19, 2017, both dates inclusive (the "Class Period").
If you purchased or acquired securities of TransDigm during the class period, and would like more information about the shareholder class action, please contact Safirstein Metcalf LLP at 1-800-221-0015, or email [email protected]
If you wish to serve as lead plaintiff, you must move the Court no later than October 10, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) TransDigm's growth and profitability were artificially inflated as a result of its illicit business practices; (2) TransDigm used exclusive distributors to make noncompetitive government bids seem competitive; (3) TransDigm subsidiaries failed to list TransDigm as a parent entity when submitting government bids; and (4) consequently, Defendants' statements about TransDigm's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
On January 20, 2017, Citron Research issued a report entitled, "Could TransDigm be the Valeant of the Aerospace Industry?" alleging that TransDigm's business model depended on "acquir[ing] airplane parts companies (over 50 in total), fir[ing] employees, and egregiously rais[ing] prices," and suggested that the company's business model was insufficient for a competitive bidding environment.
Following this news, TransDigm stock dropped $24.86 per share, or 9.87%, to close at $226.90 on January 20, 2017.
About Safirstein Metcalf LLP
Safirstein Metcalf LLP focuses its practice on shareholder rights. The law firm also practices in the areas of antitrust and consumer protection. All of the Firm’s legal endeavors are rooted in its core mission: provide investor and consumer protection.
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Safirstein Metcalf LLP
Peter Safirstein, Esq.
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1-800-221-0015
