The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Adient plc (NYSE: ADNT) who purchased shares between October 31, 2016 and June 11, 2018. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that defendants repeatedly stressed to investors that the Company was “solidly on track” to deliver 200-basis-point margin expansion by 2020, which was largely dependent on operational and financial improvements in Adient’s core SS&M business, while unbeknownst to investors, Adient’s core SS&M business faced significant operational problems such that the repeatedly touted 200-basis-point margin expansion was not “on track” at any point during the Class Period. Consequently, Adient stock traded at artificially inflated prices during the Class Period, reaching a high of $85.93 per share.
Shareholders have until December 3, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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