IRVINE, CA / ACCESSWIRE / August 22, 2016 / Khang & Khang LLP (the "Firm") announces a class action lawsuit was filed against Eaton Corporation plc ("Eaton" or the "Company") (NYSE: ETN). Investors, who purchased or otherwise acquired shares between November 13, 2013 and July 28, 2014 inclusive (the "Class Period"), are encouraged to contact the Firm prior to the September 23, 2016 lead plaintiff motion deadline.
If you purchased Eaton shares during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang LLP, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at joon@khanglaw.com.
There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
The complaint alleges that during the Class Period, the Company issued false and misleading statements about its ability to divest its automobile-part manufacturing business. Since 2008, the Company shifted away from its automobile business and expanded its electrical component businesses. In 2012, Eaton merged with Irish-headquartered Cooper Industries plc, which reincorporated the Company in Ireland. After the merger, Eaton executives assured investors of the continued feasibility of divesting the automobile-part manufacturing business on a tax-free basis. This kept the Eaton stock price artificially inflated. On July 29, 2014, Eaton's CEO Alexander M. Cutler told investors that the Company could not feasibly divest the automobile-part business until late 2017 because of tax law restrictions related to the merger. Mr. Cutler further revealed that the Company was "well aware" of these restrictions all along. When this news was disclosed, Eaton's stock fell in value, causing investors harm.
If you wish to learn more about this lawsuit, or if you have any questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at joon@khanglaw.com.
This press release may constitute Attorney Advertising in certain jurisdictions.
Contacts
Joon M. Khang, Esq.
Telephone: 949-419-3834
Facsimile: 949-225-4474
joon@khanglaw.com
SOURCE: Khang & Khang LLP
ReleaseID: 444121
