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Honeywell advised investors that the SECs Division of Corporate Finance had reviewed Honeywells pri

Time:2018-11-13 09:25mesothelioma | mesothelioma lawyers Website Click:

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A lawsuit was filed on behalf of investors in Honeywell International Inc. (NYSE: HON) shares over alleged securities laws violations.

This press release was orginally distributed by SBWire

San Diego, CA -- (SBWIRE) -- 11/12/2018 -- An investor, who purchased NYSE: HON shares, filed a lawsuit over alleged violations of Federal Securities Laws by Honeywell International Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Honeywell International Inc. (NYSE: HON) have certain options and for certain investors are short and strict deadlines running. Deadline: January 2, 2019. NYSE: HON investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On August 23, 2018, Honeywell International Inc disclosed that "the Company's Bendix asbestos-related liability is estimated to be $1,693 million as of June 30, 2018. This is $1,083 million higher than the Company's prior estimation."

Honeywell International Inc further advised investors that "Bendix asbestos-related insurance assets are estimated to be $187 million as of June 30, 2018, which is $65 million higher than the Company's prior estimate."

Then, on October 19, 2018, Honeywell International Inc filed a quarterly report with the U.S. Securities and Exchange Commission (the "SEC") for the quarter ended September 30, 2018. In its quarterly report, Honeywell advised investors that "the SEC's Division of Corporate Finance had reviewed Honeywell's prior accounting for liability for unasserted Bendix-related asbestos claims" and that "[o]n September 13, 2018, following completion of Corporation Finance's review, the SEC Division of Enforcement advised that it has opened an investigation related to this matter."

Shares of Honeywell International Inc (NYSE: HON) declined from as high as $167.72 per share on October 1, 2018 to as low as $145.34 per share on October 24, 2018.

The plaintiff claims that between February 9, 2018 and October 19, 2018, the Defendants made false and/or misleading statements and/or failed to disclose that Honeywell's Bendix asbestos-related liability was greater than initially reported, that the Company maintained improper accounting practices in connection with its Bendix asbestos-related liability, and that as a result, Honeywell's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Honeywell International Inc. (NYSE: HON) 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

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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