The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Mueller Water Products, Inc. (NYSE: MWA) who purchased shares between May 9, 2016 and August 6, 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 Mueller Water Products lawsuit alleges that (1) the Company lacked adequate testing for product quality; (2) certain products with radio components were susceptible to fail prematurely; (3) as a result, the Company was reasonably likely to incur increased expenses, including warranty costs; (4) these costs would materially impact the Company’s financial statements; (5) the Company lacked adequate internal controls over warranty costs and estimates; and (6) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until June 10, 2019 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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