NEW ORLEANS, May 26, 2020 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., announce that Honeywell International Inc. (NYSE: HON) lost its bid to escape a securities class action lawsuit led by KSF on behalf of all persons who purchased or otherwise acquired Honeywell securities from February 9, 2018 through October 19, 2018, pending in the United States District Court for the District of New Jersey.
On May 18, 2020, the New Jersey federal judge presiding over the case ruled that the plaintiff-investor leading the suit, represented by KSF, sufficiently alleged that the Company made materially false and misleading statements and failed to disclose material information regarding its liabilities relating to former subsidiary Bendix Friction Materials' use of asbestos in certain automotive products.
The case is Kanefsky v. Honeywell International Inc. et al., 2:18-cv-15536.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.