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GPM Reminds Investors of the September 23rd Deadline in the Class Action Lawsuit Against Eaton Corporation plc and Encourages Investors to Contact the Firm
[September 14, 2016]

GPM Reminds Investors of the September 23rd Deadline in the Class Action Lawsuit Against Eaton Corporation plc and Encourages Investors to Contact the Firm


Glancy Prongay & Murray LLP ("GPM") reminds investors of the September 23, 2016 deadline to file a lead plaintiff motion in the class action lawsuit filed on behalf of investors who purchased or otherwise acquired Eaton (News - Alert) Corporation plc ("Eaton" or the "Company") (NYSE: ETN) securities between November 13, 2013 and July 28, 2014, inclusive (the "Class Period").

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as 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: in response to questions regarding the effect of the Merger on the Company's ability to spin-off its businesses, Eaton executives falsely assured ivestors and the market of the continued feasibility of divesting the Company's automobile-part manufacturing business on a tax-free basis. This prospect was key to investors' and analysts' ability to value the Company. As a result, Eaton and its executives artificially inflated the price of Eaton stock.



On July 29, 2014, Eaton's CEO, Alexander M. Cutler, informed investors that Eaton could not reasonably unload its vehicle business until late 2017 due to tax-law restrictions linked to the Company's merger with Cooper Industries plc. According to Cutler, the Company had been made aware of these restrictions "all along."

On this news, Eaton's share price fell over 8%, to close at just $70.51 on July 29, 2014.


If you purchased or otherwise acquired Eaton shares during the Class Period, you may move the Court no later than September 23, 2016 to request appointment as lead plaintiff. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


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