NEW YORK, April 12, 2019 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Mueller Water Products, Inc. ("Mueller Water Products" or the "Company") (NYSE: MWA). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Mueller Water Products and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 27, 2017, in connection with its second quarter 2017 financial and operating results, Mueller Water Products disclosed that certain radio products produced by the Company's Technologies segment between 2011 and 2014 had been failing prematurely, resulting in a $9.8 million warranty charge. On this news, Mueller Water Products' stock price fell $1.43 per share, or 11.28%, to close at $11.25 per share on April 28, 2017, on unusually heavy trading volume.
Then, on August 6, 2018, in connection with its third quarter 2018 financial and operating results, Mueller Water Products reported a $14.1 million warranty charge. On this news, Mueller Water Products' stock price fell $0.75 per share, or 6%, to close at $11.74 per share on August 7, 2018, on unusually heavy trading volume.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP