BOSTON, April 23, 2015 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, is investigating possible securities law violations by Trinity Industries, Inc. ("Trinity" or the "Company") (NYSE: TRN). The investigation concerns whether Trinity and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and/or breached their fiduciary duties the Trinity's shareholders.
Trinity is a diversified industrial company that owns market-leading businesses providing products and services to the energy, transportation, chemical, and construction sectors. Among the products produced by Trinity is the ET-Plus guardrail system, which has been linked to at least eight deaths because of its allegedly faulty design.
On April 21, 2015, Bloomberg Business published a report revealing that Trinity was being investigated by the U.S. Department of Justice for potentially bribing or otherwise corrupting the Federal Highway Administration's investigations into the safety of the ET-Plus guardrail system. It is also reported that agents from the Boston offices of the FBI have been interviewing potential witnesses and have subpoenaed documents related to the Company's allegedly unlawful activities.
On this news, shares of Trinity fell $3.43 per share, or over 9%, to close at $32.82 per share on April 22, 2015. This represented a one day loss in market capitalization of over $500 million, and since the announcement of the Department of Justice investigation, the stock has traded as low as $31.55.
Block & Leviton's investigation seeks to determine, among other things, whether Trinity or its officers and directors have violated the federal securities laws and/or breached their fiduciary duties to their investors. If you have any information relevant to this investigation, or if you have purchased Trinity securities and have questions about your legal rights, please contact attorney Mark A. Delaney of Block & Leviton LLP at (617) 398-5600 or email him at [email protected].
Confidentiality to whistleblowers or others with information relevant to the investigation is assured.
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Contact: BLOCK & LEVITON LLP
Mark A. Delaney
SOURCE Block & Leviton LLP