NEW YORK, July 26, 2016 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Eaton Corporation plc (“Eaton” or the “Company”) (NYSE: ETN ) between November 13, 2013 and July 28, 2014 .
You are hereby notified that a securities class action has commenced in the USDC for the Southern District of New York. If you purchased or otherwise acquired Eaton securities between November 13, 2013 and July 28, 2014, your rights may be affected by this action. To get more information go to : http://www.zlk.com/pslra/eaton-corporation-plc .
The complaint alleges that, throughout the Class Period, defendants issued false and misleading statements regarding the Company’s ability to divest its automobile-part manufacturing business, causing the stock to trade at artificially inflated prices.
In 2012, the Company merged with Cooper Industries plc, which reincorporated Eaton in Ireland. Following the merger and during the Class Period, Eaton executives falsely assured investors of the continued feasibility of divesting the Company’s automobile-part manufacturing business on a tax-free basis. Then on July 29, 2014, Eaton CEO Alexander M. Cutler informed investors that the Company was—and had been—“well aware” of tax-law restrictions related to the merger with Cooper which would make it infeasible to divest the vehicle business until late 2017.
If you suffered a loss in Eaton you have until September 23, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/pslra/eaton-corporation-plc .
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
