Autoliv, Inc. Is Being Investigated on Behalf of Shareholders
SAN DIEGO and STOCKHOLM, May 9, 2013 /PRNewswire/ -- Shareholder rights law firm Robbins Arroyo LLP is investigating whether officers and directors of Autoliv, Inc. (NYSE: ALV) breached their fiduciary duties to shareholders. Autoliv, through its subsidiaries, develops, manufactures, and supplies automotive safety products to the automotive industry.
Autoliv Pleads Guilty to Price Fixing
On June 6, 2012, the Antitrust Division of the U.S. Department of Justice ("DOJ") announced that Autoliv agreed to plead guilty for its role in a six year conspiracy to fix the prices of seatbelts, airbags, and steering wheels installed in U.S. automobiles. As part of that plea agreement, Autoliv agreed to pay a criminal fine of $14.5 million. In addition, Autoliv continues to face investigations by the U.S. Securities and Exchange Commission, the European Union antitrust authorities, and private lawsuits concerning its role in this price fixing conspiracy.
Robbins Arroyo LLP Investigates Failed Internal Controls and Potential Improper Public Statements by Autoliv Officers and Directors
Robbins Arroyo LLP's investigation concerns whether certain of Autoliv's officers and directors failed to implement adequate internal controls to ensure proper accounting practices. In addition, Robbins Arroyo LLP is investigating whether these fiduciaries issued false and misleading statements regarding: (i) the company's financial condition; and (ii) the implementation and maintenance of internal controls to ensure that Autoliv complied with the Generally Accepted Accounting Principles.
Robbins Arroyo LLP highlights that Autoliv shareholders have the option to pursue a shareholder derivative action through which shareholders aim to hold insider wrongdoers accountable for their actions, prevent future misconduct, and bring long-term value back to the company. Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, DDonahue@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. For more information, please go to http://www.robbinsarroyo.com.
Press release link: http://www.robbinsarroyo.com/shareholders-rights-blog/autoliv-inc/
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SOURCE Robbins Arroyo LLP