LOS ANGELES--(BUSINESS WIRE)--
Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of a class (the “Class”) comprising all purchasers of the common stock of Autoliv, Inc. (“Autoliv” or the “Company”) (ALV) between October 26, 2010 and August 1, 2011, inclusive (the “Class Period”).
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE CONTACT US BY PHONE TO DISCUSS THIS ACTION OR TO OBTAIN A COPY OF THE COMPLAINT AT (310) 201-9150, TOLL-FREE AT (888) 773-9224, OR BY EMAIL AT SHAREHOLDERS@GLANCYLAW.COM.
Autoliv is based in Stockholm, Sweden, and through its subsidiaries engages in the development, manufacture and supply of automotive safety systems to the automotive industry. The Complaint alleges that the defendants violated federal securities laws by issuing materially false and misleading statements regarding Autoliv’s business practices with respect to its product pricing and potentially anti-competitive conduct, thereby causing Autoliv stock to trade at artificially inflated prices during the Class Period. The Complaint further alleges that the Company engaged in wrongful anti-competitive business practices with other automotive industry suppliers, which were designed to control the market prices of the products sold by Autoliv and others, thereby subjecting the Company to material undisclosed risks, including monetary and reputational risks.
In early 2011, a United States Department of Justice investigation of Autoliv for potential antitrust violations was followed by a June 2011 raid of Autoliv’s German subsidiary by antitrust authorities of the European Commission seeking evidence of anti-competitive misconduct. News of the raid and the Company’s disclosure that it had already spent more than $4 million on legal fees caused the price of Autoliv stock to plummet below $62 per share on August 2, 2011.
If you are a member of the Class described above, you may move the Court, no later than June 17, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. If you wish to learn more about this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com.
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