On or around 05/12/2020 (Other)
Filing Date: August 10, 2017
According to the law firm press release, 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.
On December 5, 2017, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on February 16, 2018. On December 21, Lead Plaintiff filed a second amended Complaint. On March 29, 2019, Lead Plaintiff filed a third amended Complaint. Defendants filed a Motion to Dismiss the third amended Complaint on May 13. On February 19, 2020, the Court issued an Order granting Defendants' Motion to Dismiss. Lead Plaintiff filed a Notice appealing the dismissal Order on March 18. On May 12,the Court of Appeals dismissed the case upon consideration of the parties' stipulation to dismiss.
Company & Securities Information
Defendant: TransDigm Group, Inc.
Sector: Capital Goods
Industry: Aerospace & Defense
Headquarters: United States
Ticker Symbol: TDG
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
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First Identified Complaint
City of Hollywood Firefighters' Pension Fund, et al. v. TransDigm Group, Inc., et al.