TransDigm Group, Inc.
TransDigm designs, produces, and supplies aircraft components to customers around the globe. Notably, the Company’s largest customer is the U.S. Government.
According to the Complaint, throughout the Class Period, Defendants made false and/or misleading statements, and/or failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) TransDigm’s growth and profitability were artificially inflated as a result of its illicit business practices; (2) the Company used exclusive distributors to make noncompetitive government bids seems competitive; (3) TransDigm subsidiaries failed to list TransDigm as a parent entity when submitting government bids; and (4) as a result of the foregoing, Defendants’ statements about TransDigm’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis. As a result of this fraudulent scheme, Defendants were able to artificially inflate the Company’s financials throughout the Class Period.
On December 5, 2017 Saxena White P.A. was appointed lead counsel and the City of Hollywood Firefighters Pension Fund was appointed lead plantiff.
On February 16, 2018, Plaintiff filed their Amended Complaint. On May 7, 2018, Defendants moved to dismiss the Amended Complaint. Plaintiff filed their opposition to Defendants’ motion to dismiss on June 22, 2018. Defendants are expected to file their reply on August 10, 2018.