SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Reminds Investors of Class Action Against Eaton Corporation plc (ETN) and Lead Plaintiff Deadline - September 23, 2016
NEW YORK, NY / ACCESSWIRE / August 31, 2016 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a securities class action has been filed on behalf of those who purchased shares of Eaton Corporation plc ("Eaton" or the "Company") (ETN) and certain of its officers, during the period between November 13, 2013 and July 28, 2016, inclusive (the "Class Period").
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 "Exchange Act").
The Complaint alleges that Defendants issued false and misleading statements regarding Eaton's ability to divest its automobile-part manufacturing business. Eaton has primarily focused on vehicle component manufacturing, but as of 2008, Eaton has extended its electrical component businesses. In 2012 Eaton entered a merger with Cooper Industries plc, which reincorporated Eaton in Ireland. Following the Merger, Eaton's executives guaranteed its shareholders of the feasibility of divesting the automobile-part manufacturing business on a tax-free basis, thus artificially inflating Eaton's stock price. On July 29, 2014, Eaton's Chief Executive Officer, Alexander M. Cutler, informed investors that due to the merger with Cooper Industries plc and the associated tax-law restrictions, Eaton would not be able to divest its vehicle business until late. Cutler added the Eaton was "well aware" of these restrictions "all along." Following this news, Eaton stock dropped $6.24 per share, or 8.13%, to close at $70.51 on July 29, 2014.
No Class has yet been certified in the above action. To discuss this action, or for any questions, please visit the firm's site: http://www.bgandg.com/#!etn/d4r9k or contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email info@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Eaton, you have until September 23, 2016 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.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
