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Precision Castparts Corp.

Case Summary

Precision Castparts Corp. Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 05/02/2018 (Ongoing date of last review)

Filing Date: March 25, 2016

According to the law firm press release, the complaint charges Precision Castparts and certain of its officers with violations of the federal securities laws. Specifically, the complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company was losing significant market share to its competitors; (2) that this loss of business to competitors was not, as the Company represented, a temporary decline in sales that would reappear in the near future, but was instead a permanent decline in demand for the Company’s products; and (3) that, as a result, the Company’s positive statements about its business, operations, and prospects lacked a reasonable basis.

On July 13, 2016, the Court appointed Lead Plaintiff and Counsel. Lead Plaintiff filed an amended complaint on September 26.

On August 22, 2017, the Court issued an Order denying Defendants' Motion to Dismiss.

Company & Securities Information

Defendant: Precision Castparts Corp.

COMPANY INFORMATION:

Sector: Capital Goods
Industry: Aerospace & Defense
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: PCP
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.

First Identified Complaint

Kevin Murphy, et al. v. Precision Castparts Corp., et al.

COURT: D. Oregon
DOCKET #: 16-CV-00521
JUDGE: Hon. Stacie F. Beckerman
DATE FILED: 03/25/2016
CLASS PERIOD START: 05/09/2013
CLASS PERIOD END: 01/15/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP
    1925 Century Park East, Suite 2100 , Glancy Prongay & Murray LLP, CA 90067
    (310) 201-9150 (310) 432-1495 ·
  2. Ransom, Gilbertson, Martin & Ratliff, L.L.P.
    1500 NE Irving Street, Suite 412, Ransom, Gilbertson, Martin & Ratliff, L.L.P., OR 97232
    503-226-3664 ·
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Complaint for Violation of the Federal Securities Laws 03/25/2016
2 U.S. District Court Civil Docket 03/28/2016
3 Order Granting the Motion of AMF Pensionsforsakring AB and Oklahoma Firefighters Pension and Retirement System for Appointment as Lead Plaintiff and Approval of Selection of Lead Counsel 07/13/2016

Reference Complaint

Kevin Murphy, et al. v. Precision Castparts Corp., et al.

COURT: D. Oregon
DOCKET #: 16-CV-00521
JUDGE: Hon. Stacie F. Beckerman
DATE FILED: 09/26/2016
CLASS PERIOD START: 05/09/2013
CLASS PERIOD END: 01/15/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Garvey Schubert Barer
    121 SW Morrison Street , Garvey Schubert Barer , OR 97204
    503-228-3939 503-226-0259 ·
  2. Labaton Sucharow LLP
    140 Broadway, Labaton Sucharow LLP, NY 10005
    212.907.0700 212.818.0477 · info@labaton.com
Reference Complaint (REF) Filings:
No Document Title Filing Date
1 Amended Class Action Complaint for Violation of the Federal Securities Laws 09/29/2016
2 Order 08/22/2017
3 U.S. District Court Civil Docket 05/02/2018
 
 

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