SAN FRANCISCO, March 22, 2017 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP alerts investors in TransDigm Group Incorporated (NYSE: TDG) to the firm's investigation into possible securities law violations. These may relate to the recent announcement that a member of the House Committee on Armed Services requested the Acting Inspector General of the U.S. Department of Defense to investigate the Company's conduct for potential waste, fraud, and abuse in the defense industrial base.
If you purchased or otherwise acquired securities of TDG before March 21, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing TDG@hbsslaw.com.
On March 21, 2017 Congressman Ro Khanna, a member of the House Committee on Armed Services, announced that the previous day he requested the Acting Inspector General of the U.S. Department of Defense to investigate TransDigm's business practices. His announcement stated, "[r]ecent news reports indicate that TransDigm may be operating as a 'hidden monopolist'[.]"
Congressman Khanna wrote, "[F]ederal regulations protect the taxpayer against sole source contractors like TransDigm " and "TransDigm appears to use a range of methods to evade these protections."
On this news, TransDigm's share price fell over $13 to close at $224.79 that day.
"TransDigm's transparency when dealing with the Federal government and with its investors is certainly material to both constituents. We're focused on whether the Federal investigation will commence and on prior TransDigm disclosures to its investors," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding TransDigm should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email TDG@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000
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SOURCE Hagens Berman Sobol Shapiro LLP