NEW YORK, June 07, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Mueller Water Products, Inc. (MWA) from May 9, 2016 through August 6, 2018, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Mueller investors under the federal securities laws.
If you wish to serve as lead plaintiff, you must move the Court no later than June 10, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go http://zhanginvestorlaw.com/join-action-form/?slug=mueller-water-products-inc&id=1831 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email email@example.com, firstname.lastname@example.org for information on the class action.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Mueller lacked adequate testing for product quality; (2) certain products with radio components were susceptible to fail prematurely; (3) as a result, Mueller was reasonably likely to incur increased expenses, including warranty costs; (4) these costs would materially impact Mueller’s financial statements; (5) Mueller lacked adequate internal controls over warranty costs and estimates; and (6) as a result of the foregoing, Mueller’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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