The Shareholders Foundation announces that an investigation on behalf of current long-term investors in shares of Trinity Industries Inc (NYSE:TRN) shares was launched over potential breaches of fiduciary duties by certain officers and directors at Trinity Industries.
Investors who purchased shares of Trinity Industries Inc (NYSE:TRN) and currently hold any of those NYSE:TRN shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Trinity Industries officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
Trinity Industries Inc reported that its annual Total Revenue rose from over $1.93 billion in 2010 to over $4.36 billion in 2013 and that its respective Net Income increased from $67.20 million to $375.50 million.
Shares of Trinity Industries Inc (NYSE:TRN) grew to as high as $50.30 per share in September 2014.
Since then NYSE:TRN shares have lost significantly value and declined to $30.92 per share on October 15, 2014.
Then on October 20, 2014, a federal jury found Trinity Industries Inc liable for hiding information from the U.S. government over modifications made to Company’s ET-Plus guardrail systems.. The jury said those violations caused the U.S. government to incur $175 million in damages, making Trinity Industries Inc potentially liable for three times that amount in liability payments. Additionally, several other states have prohibited further purchases of the guardrail system citing safety concerns.
On October 31, 2014, NYSE:TRN shares closed at $35.71 per share.
Those who purchased shares of Trinity Industries Inc have certain options and should contact the Shareholders Foundation.
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