NEW ORLEANS–(BUSINESS WIRE)–Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until October 21, 2019 to file lead plaintiff applications in a securities class action lawsuit against Textron Inc. (NYSE: TXT), if they purchased the Company’s shares between January 31, 2018 and October 17, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Textron and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-txt/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by October 21, 2019.
About the Lawsuit
Textron and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 18, 2018, the Company disclosed weak 3Q2018 earnings and slashed its full-year 2018 forecast, which it attributed to significant discounts taken in order to clear out inventory from Arctic Cat Inc., which it had acquired in March 2017.
On this news, the price of Textron’s shares fell 11.25%, erasing $1.8B from its market capitalization.
The case is Bldg. Trades Pension Fund of Western Pennsylvania v. Textron Inc., 19-cv-07881.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163