NEW YORK, Nov. 8, 2018 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Honeywell International, Inc. ("Honeywell" or the "Company") (NYSE:HON) of the December 31, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Honeywell stock or options between February 9, 2018 and October 19, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/HON. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com.
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The lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all those who purchased Honeywell securities between February 9, 2018 and October 19, 2018 (the "Class Period"). The case, Kanefsky v. Honeywell International, Inc., No. 18-cv-15536 was filed on October 31, 2018, and has been assigned to Judge William J. Martini.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) Honeywell's Bendix asbestos-related liability was greater than initially reported; (2) the Company maintained improper accounting practices in connection with its Bendix asbestos-related liability; and (3) as a result, Honeywell's public statements were materially false and misleading at all relevant times.
Specifically, on October 19, 2018, the Company filed its quarterly report with the SEC for the quarter ended September 30, 2018, revealing the full extent of Honeywell's improper accounting for its asbestos liability attributable to Bendix. In its quarterly report, Honeywell disclosed that "the SEC's Division of Corporate Finance had reviewed Honeywell's prior accounting for liability for unasserted Bendix-related asbestos claims" and that "[o]n September 13, 2018, following completion of Corporation Finance's review, the SEC Division of Enforcement advised that it has opened an investigation related to this matter."
On this news, the Company's share price fell, causing harm to investors.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Honeywell's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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