NEW YORK, Aug. 23, 2019 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Textron, Inc. (“Textron” or the “Company”) (NYSE: TXT). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Textron and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On October 18, 2018, Textron reported weak third quarter 2018 earnings and cut its full-year 2018 forecast. Textron blamed the shortfall on heavy discounts issued by Textron to clear out old inventory. Analysts immediately lowered their price targets on Textron stock, citing inventory concerns at the Company’s Arctic Cat Inc. subsidiary.
On this news, Textron’s stock price fell $7.29 per share, or 11.25%, to close at $57.49 per share on October 18, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 9980
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