Thieler Law Corp advises investors with losses exceeding $100,000 of the October 21, 2019 lead plaintiff deadline in a class action lawsuit filed against Textron Inc (NYSE: TXT) (“Textron” or “the Company”). The suit is pending in the U.S. District Court for the Southern District of New York and investors, who purchased Textron Inc securities between January 31, 2018 and October 17, 2018, have until October 21, 2019 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Textron Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that end-market sales of Arctic Cat Inc. products were slowing, resulting in a massive glut of old Arctic Cat inventory on dealers' floors; in order to clear out this old inventory, Textron provided significant price discounts, which negatively impacted Textron's earnings; and as a result, Textron’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On October 18, 2018, the Company reported weak third quarter 2018 earnings and cut its full-year 2018 forecast.  The Company attributed the shortfall on heavy discounts issued by Textron to clear out old inventory. Analysts immediately lowered their price targets on Textron stock, citing inventory concerns at the Company's Arctic Cat Inc. subsidiary. 

Following this news, NYSE: TXT fell $7.29 per share, or 11.25%, to close at $57.49 per share on October 18, 2018.

If you were negatively impacted by your investment in Textron Inc securities between January 31, 2018 and October 17, 2018, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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