PR Log (Press Release) –
Nov 02, 2009 – A lawsuit on behalf of investors, who purchased their Textron Inc. (Public, NYSE:TXT) shares between July 17, 2007 and January 29, 2009, alleging violations of Federal Securities Laws by Textron and others is currently pending in the United States District Court for the District of Rhode Island. An investigation on behalf of long term investors of Textron Inc. (Public, NYSE:TXT), who currently hold their TXT shares, focusing on potential claims against certain directors and officers of Textron Inc. (NYSE:TXT) is ongoing.
If you are a current long term investor in Textron Inc. (NYSE:TXT) securities and / or purchased TXT shares between July 17, 2007 and January 29, 2009, you have certain options and you should contact the Shareholders Foundation, Inc at:
Email: mail@shareholdersfoundation.com
Or call us at: +1 (858) 779 - 1554
An investor in Textron Inc. (Public, NYSE:TXT) shares has filed a proposed securities class action lawsuit on behalf of the above stated purchasers of Textron Inc. (NYSE:TXT) securities over potential claims against Textron Inc and others for allegedly violating the Federal Securities Laws by issuing between July 17, 2007 and January 29, 2009 materially false and misleading statements concerning Textron Inc’s stability and profitability by repeatedly publicizing record “backlogs”
of unfilled customer orders for aircraft generated primarily by Cessna and by making positive statements about its finance segment. Then on January 29, 2009 Textron Inc announced that an estimated $30 million of the $65 million in “restructuring” costs would be incurred by the its Cessna segment due to production cutbacks and worker layoffs planned for the first quarter of 2009. After this announcement, Textron Inc common stock(NYSE:TXT) traded to a new low of $8.83 per share before closing at $9.05 per share on volume of more than 26 million shares, a one day decline of $4.19, or 31%.
Those who are current long term investors in Textron Inc. (NYSE:TXT) securities and / or purchased TXT shares between July 17, 2007 and January 29, 2009, have certain options and you should contact the Shareholders Foundation, Inc at:
Email: mail@shareholdersfoundation.com
Or call us at: +1 (858) 779 - 1554
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-779-1554
Fax:+1-(858)-605-5739
mail@shareholdersfoundation.com
www.ShareholdersFoundation.com
_____________________________________________________________________________________
Advertising. The Shareholders Foundation, Inc. is an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. We help investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
