NEW YORK, Dec. 19, 2018 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the links provided. There is no cost or obligation to you.
Honeywell International Inc. (NYSE: HON)
Class Period: February 9, 2018 - October 19, 2018
Lead Plaintiff Deadline: December 31, 2018
Join the action: https://www.zlk.com/pslra-1/honeywell-international-inc-loss-form?wire=3
The lawsuit alleges: Honeywell International Inc. made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (1) Honeywell’s Bendix Friction Materials ("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.
Honeywell previously owned Bendix, which used asbestos in its brake- and clutch-pad products until 2001; the Company sold Bendix in 2014. On August 23, 2018, Honeywell announced it had "revised its method for reasonably estimating its liability for unasserted Bendix asbestos-related claims by considering the epidemiological projections through 2059 of future incidence of Bendix asbestos-related disease. Using this method, the Company’s Bendix asbestos-related liability is estimated to be $1,693 million as of June 30, 2018. This is $1,083 million higher than the Company’s prior estimation which applied a five-year horizon when estimating the liability for unasserted Bendix asbestos-related claims. The Bendix asbestos-related insurance assets are estimated to be $187 million as of June 30, 2018, which is $65 million higher than the Company’s prior estimate."
To learn more about the Honeywell International Inc. class action contact jlevi@levikorsinsky.com.
Align Technology, Inc. (NASDAQGS: ALGN)
Class Period: April 25, 2018 - October 24, 2018
Lead Plaintiff Deadline: January 4, 2019
Join the action: https://www.zlk.com/pslra-1/align-technology-inc-loss-form?wire=3
The lawsuit alleges that, during the class period, Align Technology, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) at the beginning of the year the Company changed its North American Advantage Customer Loyalty Program by extending the discount qualification period from quarterly to semi-annual and created additional incentive tiers which was intended to, and did, result in “higher overall discounts” for its doctor customers and substantial reduction of the average sales price (ASP); (2) in Q3 the Company initiated a new Invisalign product promotion that resulted in substantial reduction of its ASP; (3) the promotions and discounts would materially impact net income as a result of reduced profit margins; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
To learn more about the Align Technology, Inc. class action contact jlevi@levikorsinsky.com.
GreenSky, Inc. (NASDAQGS: GSKY)
Class Period: Class A common shareholders who purchased shares pursuant to the IPO on or around May 23, 2018
Lead Plaintiff Deadline: January 28, 2019
Join the action: https://www.zlk.com/pslra-1/greensky-inc-loss-form?wire=3
The complaint alleges that the Offering Documents failed to disclose material information and/or misstated material information, including the substantial change in the composition of GreenSky’s merchant business mix and the resulting diminution in transaction-fee revenue. The Initial Public Offering closed on May 29, 2018 with GreenSky having sold 43.7 million shares of Class A common stock at $23.00 per share. On November 6, 2018, GreenSky issued a press release indicating that the Company’s transaction-fee rate was approximately 35 basis points below the rate achieved in the third quarter of 2017. Following this news, shares of GreenSky closed at $9.28 per share on November 6, 2018.
To learn more about the GreenSky, Inc. class action contact jlevi@levikorsinsky.com.
You have until the lead plaintiff deadlines to request the court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com