A lawsuit was filed on behalf of investors in Textron Inc. (NYSE: TXT) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 09/09/2019 -- An investor, who purchased shares of Textron Inc. (NYSE: TXT), filed a lawsuit over alleged violations of Federal Securities Laws by Textron Inc.
Investors who purchased shares of Textron Inc. (NYSE: TXT) have certain options and for certain investors are short and strict deadlines running. Deadline: October 21, 2019. Textron Inc. (NYSE: TXT investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
Providence, RI based Textron Inc. operates in the aircraft, defense, industrial, and finance businesses worldwide. On March 6, 2017, Textron Inc expanded its recreational vehicle business through its $316 million acquisition of Arctic Cat Inc. Upon the completion of this transaction, Arctic Cat became an indirect wholly-owned subsidiary of Textron Inc. Arctic Cat designs and manufactures a variety of recreational vehicles, including all-terrain vehicles and snowmobiles. Arctic Cat revenues are generated through sales to independent dealers.
On October 18, 2018, when Textron reported weak third quarter 2018 earnings and cut its full-year 2018 forecast.
The plaintiff claims that between January 31, 2018 and October 17, 2018, the Defendants failed to disclose that end-market sales of Arctic Cat products were slowing, resulting in a massive glut of old Arctic Cat inventory on dealers' floors, that in order to clear out this old inventory, the Company provided significant price discounts, which negatively impacted Textron's earnings, and that as a result, Textron's positive statements about Arctic Cat's business, operations, and prospects were false and misleading
Those who purchased shares of Textron Inc. (NYSE: TXT) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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