A lawsuit was filed on behalf of investors in Precision Castparts Corp. (formerly NYSE:PCP) shares over alleged securities laws violations and NYSE:PCP investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/20/2016 -- The Shareholders Foundation announced that a shareholder of of Precision Castparts Corp. (formerly NYSE:PCP) filed a lawsuit over alleged violations of Federal Securities Laws by Precision Castparts.
Investors who purchased a significant amount of shares of Precision Castparts Corp. (formerly NYSE:PCP) between May 9, 2013 and January 15, 2015, have certain options and for certain investors are short and strict deadlines running. Deadline: May 27, 2016. NYSE:PCP investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges on behalf of purchasers of Precision Castparts Corp. (formerly NYSE:PCP) common shares between May 9, 2013 and January 15, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the Defendants made false and/or misleading statements and/or failed to disclose that Precision Castparts Corp was losing significant market share to its competitors, that this loss of business to competitors was not, as Precision Castparts Corp represented, a temporary decline in sales that would reappear in the near future, but was instead a permanent decline in demand for the Company's products, and that, as a result, the Company's positive statements about its business, operations, and prospects lacked a reasonable basis.
On August 10, 2015, the boards of directors of Berkshire Hathaway Inc. and Precision Castparts Corp. (NYSE:PCP) have approved an agreement for Berkshire Hathaway to acquire, for $235 per share in cash, all outstanding Precision Castparts Corp. (NYSE:PCP) shares. The transaction is valued at approximately $37.2 billion, including outstanding PCC net debt.
Those who purchased shares of Precision Castparts Corp. (formerly NYSE:PCP) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com