NEW YORK, March 22, 2017 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at TransDigm Group Incorporated ("TransDigm" or the "Company") (NYSE: TDG).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that the Company's business strategies in recent years may have rendered it uncompetitive in the contract bidding market.
Specifically, on January 20, 2017, Citron Research issued a comprehensive report entitled "Could TransDigm be the Valeant of the Aerospace Industry?" claiming that TransDigm's business model, including "acquir[ing] airplane parts companies (over 50 in total), fir[ing] employees, and egregiously rais[ing] prices," has put the Company at a disadvantage in effectively participating in contract bidding.
After the announcement, TransDigm's share price fell from $251.76 per share on January 19, 2017 to a closing price of $226.90 on January 20, 2017—a $24.86 or a 9.8% drop.
Then, on March 21, 2017, California Representative Ro Khanna (D-CA) wrote a letter to the inspector general of the Department of Defense, accusing the Company of "waste, fraud and abuse in the defense and industrial base."
On this news, TransDigm's share price fell from $237.94 per share on March 20, 2017 to a closing price of $224.79 on March 21, 2017—a $13.15 or 5.5% drop.
Request more information now by clicking here: www.faruqilaw.com/TDG. There is no cost or obligation to you.
If you invested in TransDigm stock or options and would like to discuss your legal rights, visit www.faruqilaw.com/TDG. 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 firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding TransDigm's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/transdigm-notification-faruqi--faruqi-llp-encourages-investors-who-suffered-losses-in-excess-of-100000-investing-in-transdigm-group-incorporated-to-contact-the-firm-300427869.html
SOURCE Faruqi & Faruqi, LLP