Shareholder Alert

Robbins Arroyo LLP Reminds Investors the Lead Plaintiff Deadline is Approaching for Textron Inc. (TXT) Class Action

Shareholder rights law firm Robbins Arroyo LLP reminds investors that a purchaser of Textron Inc. (NYSE: TXT) filed a class action complaint for alleged violations of the Securities Exchange Act of 1934 between January 31, 2018 and October 17, 2018. Textron is a global manufacturer and distributor of small aircrafts and recreational vehicles.

If you suffered a loss as a result of Textron's misconduct, click here.

Textron Inc. (TXT) Accused of Misleading Shareholders

According to the complaint, in March 2017, Textron acquired Artic Cat Inc. for $316 million on the notion that this acquisition would give Textron "a deeper product line for customers, greater potential for innovation, and introduces new sales opportunities for [Textron's] worldwide dealer network." Textron continued to tout this potential for growth throughout the class period, but failed to disclose that end market sales of Artic Cat products were actually slowing, creating a massive amount of old Artic Cat inventory on dealers' floors. As a result of this inventory back-up, Textron provided significant price discounts, which negatively impacted Textron's earnings. Then, on October 18, 2018, Textron reported weak third quarter 2018 earnings and cut its full-year 2018 forecast, attributing the poor financial results to the heavy discounts it issued in an effort to clear out old inventory. On this news, Textron stock fell $7.29, or 11.25%, to close at $57.49 and erasing $1.8 billion from its market capitalization. The stock value has yet to recover and continues to decline.

If you purchased Textron Inc. (TXT) shares between January 31, 2018 and October 17, 2018, and would like more information, please contact us:

Leo Kandinov
[phone]
[e-mail]
Shareholder Information Form

Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Click Here to receive free alerts from Stock Watch when companies engage in wrongdoing.

Attorney Advertising. Past results do not guarantee a similar outcome.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191015006186/en/