Honeywell International Inc. Securities Litigation
On or around 05/18/2020 (Date of last review)
Filing Date: October 31, 2018
According to the Complaint, Honeywell is a multinational conglomerate that makes a variety of commercial and consumer products, engineering services, and aerospace systems. Honeywell previously owned Bendix Friction Materials (“Bendix”), a manufacturer of automotive, truck and industrial brakes. Despite known health hazards, Bendix used asbestos in its brake- and clutch-pad products until 2001. Honeywell sold Bendix in 2014.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding Honeywell’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Honeywell’s Bendix asbestos-related liability was greater than initially reported; (ii) the Company maintained improper accounting practices in connection with its Bendix asbestos-related liability; and (iii) as a result, Honeywell’s public statements were materially false and misleading at all relevant times.
On February 26, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on April 10. On August 19, Plaintiff filed a second amended Complaint. Lead Plaintiff filed a third amended Complaint on December 30. Defendants filed a Motion to Dismiss the third amended Complaint on February 7, 2020. On May 18, the Court issued an Order denying Defendants' Motion to Dismiss.
Company & Securities Information
Defendant: Honeywell International Inc.
Sector: Capital Goods
Industry: Aerospace & Defense
Headquarters: United States
Ticker Symbol: HON
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
David Kanefsky, et al. v. Honeywell International Inc., et al.