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Case Status:    SETTLED
On or around 04/01/2020 (Other)

Filing Date: April 28, 2015

According to the law firm press release, Trinity is a diversified industrial company that owns a variety of businesses that provides products and services to the energy, transportation, chemical, and construction sectors.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Trinity engaged in cost-cutting alterations to its ET-Plus guardrails; (2) the safety of its units was compromised as a result of the alterations; (3) the crash tests on Trinity’s products may have been flawed; and (4) Trinity faces additional civil and criminal liabilities as a result of the flawed crash tests. As a result of the foregoing, Defendants’ statements about Trinity’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis in that the Company’s liabilities were understated, and its financial projections were overstated

After the market closed on April 21, 2015, an article published on Bloomberg stated that the U.S. Justice Department is investigating the Federal Highway Agency’s support of Trinity’s highway guardrail system. On this news, Trinity shares declined $3.43 per share, over 9%, to close at $32.82 per share on April 22, 2015. On April 24, 2015, the Company confirmed the initiation of the federal investigation in a conference call with investors. On this news, Trinity shares declined an additional $4.66 per share, or 14%, to close at $28.70 per share on April 24, 2015.

On June 18, 2015, the first identified case was voluntarily dismissed. A similar action was filed and docketed under 15-CV-02093, and the action continues there.

This action was administratively closed on March 13, 2017.

On September 23, 2019, the parties entered into a Stipulation of Settlement. The Court issued an Order preliminarily approving the Settlement on November 12. On March 31, 2020, the Court granted final approval of the Settlement and entered Final Judgment.


Sector: Transportation
Industry: Railroads
Headquarters: United States


Ticker Symbol: TRN
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data

"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. Texas
DOCKET #: 15-CV-01316
JUDGE: Hon. David C Godbey
DATE FILED: 04/28/2015
CLASS PERIOD END: 04/23/2015
  1. Glancy Binkow & Goldberg LLP (Los Angeles)
  2. Kendall Law Group, LLP
No Document Title Filing Date
COURT: N.D. Texas
DOCKET #: 15-CV-02093
JUDGE: Hon. David C Godbey
DATE FILED: 05/11/2016
CLASS PERIOD END: 04/24/2015
  1. Balon B. Bradley Law Firm
  2. Bernstein Litowitz Berger & Grossmann LLP (Former New York)
  3. Jackson Walker LLP
  4. Kendall Law Group, LLP
  5. Lowenstein Sandler PC
  6. O'Donoghue & O'Donoghue LLP
  7. Robbins Geller Rudman & Dowd LLP (San Diego)
No Document Title Filing Date
—Related District Court Filings Data is not available