NEW YORK, Aug. 10, 2017 /PRNewswire/ -- Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against TransDigm Group Incorporated ("TransDigm" or the "Company") (NYSE: TDG) and certain of its officers, on behalf of shareholders who purchased TransDigm securities between May 10, 2016 and January 19, 2017, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/tdg.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) TransDigm's growth and profitability were artificially inflated as a result of its illicit business practices; (2) TransDigm used exclusive distributors to make noncompetitive government bids seems competitive; (3) TransDigm subsidiaries failed to list TransDigm as a parent entity when submitting government bids; and (4) consequently, Defendants' statements about TransDigm's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
On January 20, 2017, Citron Research issued a report entitled "Could TransDigm be the Valeant of the Aerospace Industry?" alleging that TransDigm's business model depended on "acquir[ing] airplane parts companies (over 50 in total), fir[ing] employees, and egregiously rais[ing] prices," and suggested that the company's business model was insufficient for a competitive bidding environment. Following this news, TransDigm stock dropped $24.86 per share, or 9.87%, to close at $226.90 on January 20, 2017.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/tdg or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in TransDigm you have until October 10, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
View original content with multimedia:http://www.prnewswire.com/news-releases/shareholder-alert-bronstein-gewirtz--grossman-llc-notifies-shareholders-of-class-action-against-transdigm-group-incorporated-tdg--lead-plaintiff-deadline-october-10-2017-300503086.html
SOURCE Bronstein, Gewirtz & Grossman, LLC