TransDigm Group Incorporated (NYSE: TDG)
Reed R. Kathrein
Hagens Berman Sobol Shapiro LLP alerts investors in TransDigm Group Incorporated (NYSE: TDG) to the expanded class period in the pending securities class action filed in the U.S. District Court for the Northern District of Ohio.
If you purchased or otherwise acquired securities of TransDisgm between May 10, 2015 and March 21, 2017 and suffered losses contact Hagens Berman Sobol Shapiro Partner Reed Kathrein, who is leading the firm’s investigation, at:
On January 20, 2017, Citron Research published a report entitled “Could TransDigm be the Valeant of the Aerospace Industry?” The report accuses TransDigm of price gouging the U.S. Government. According to Citron, the Company acquires airplane parts companies, proceeds to fire the employees of the newly acquired companies, and egregiously raises prices of products produced by the acquired companies.
This news drove the price of TransDigm shares down $24.86, or over 9.8%, to close at $226.90 per share on January 20, 2017.
Subsequently, on March 20, 2017, Congressman Ro Khanna requested the Acting Inspector General of the U.S. Department of Defense to investigate TransDigm’s business practices. This news drove the price of TransDigm shares down $13.15, or approximately 5.5%, to close at $224.79 on March 21, 2017.
More recently, on June 12, 2017, CNBC reported that Senator Elizabeth Warren similarly called for a Federal investigation into TransDigm’s business with the Federal government. This news drove the price of TransDigm shares down approximately 3% to close at $262.78 that day.
“TransDigm’s transparency when dealing with the Federal government and with its investors is certainly material to both constituents. We’re focused on whether the Federal investigation will commence and on prior TransDigm financial disclosures to its investors,” said Hagens Berman partner Reed Kathrein.
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