Case Page

 

Case Status:    ONGOING    
On or around 09/20/2017 (Court's order of dismissal)

Filing Date: July 22, 2016

According to the law firm press release, Eaton is an Ireland-based manufacturer of engineered products marketed to customers in the industrial, agricultural, construction, aerospace, and vehicle markets. For most of its 100 year history, Eaton primarily was a vehicle component manufacturer. Since 2008, however, the Company has been making strategic shifts away from its vehicle business, while growing its electrical component businesses.

In 2012, the Company engaged in a merger (the “Merger”) with the Irish-headquartered Cooper Industries plc. (“Cooper”), which reincorporated the Company in Ireland. Following the Merger, and during the Class Period, in response to questions from securities analysts about the effect of the Merger on the Company’s ability to spin-off its business, Eaton executives falsely assured investors and the market of the continued feasibility of divesting the Company’s automobile-part manufacturing business on a tax-free basis. This prospect was key to investors’ and analysts’ ability to value the Company. As a result, Eaton and its executives artificially inflated the price of Eaton stock.

On November 4, 2016, Plaintiff filed an Amended Complaint. On December 13, the Court issued an Order consolidating actions and appointing Lead Plaintiff and Lead Counsel. On January 13, 2017, Lead Plaintiff filed a consolidated Complaint.

On September 20, 2017, the Court issued an Order granting Defendants' Motions to Dismiss. Plaintiffs were given leave to file an amended Complaint, which was filed on October 30.

COMPANY INFORMATION:

Sector: Capital Goods
Industry: Misc. Capital Goods
Headquarters: Ireland

SECURITIES INFORMATION:

Ticker Symbol: ETN
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: S.D. New York
DOCKET #: 16-CV-05894
JUDGE: Hon. John G. Koeltl
DATE FILED: 07/22/2016
CLASS PERIOD START: 11/13/2013
CLASS PERIOD END: 07/28/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Labaton Sucharow LLP
    140 Broadway, Labaton Sucharow LLP, NY 10005
    212.907.0700 212.818.0477 · info@labaton.com
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 16-CV-05894
JUDGE: Hon. John G. Koeltl
DATE FILED: 10/30/2017
CLASS PERIOD START: 05/21/2012
CLASS PERIOD END: 07/28/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Labaton Sucharow LLP
    140 Broadway, Labaton Sucharow LLP, NY 10005
    212.907.0700 212.818.0477 · info@labaton.com
No Document Title Filing Date