The information contained on this website is only a summary of the information presented in more detail in the Notice of Pendency of Class Action ("Notice"). Because this website is just a summary, you should review the Notice for additional details.
Summary of the Action
This is a class action against Defendants for alleged violations of the federal securities laws during the Class Period. Class Representatives make the following allegations: Defendants made materially false and misleading statements and omitted material adverse facts regarding, among other things, Precision Castparts Corp's long-term earnings-per-share guidance, its undisclosed reliance on “pull in” sales (i.e., sales scheduled to occur in future quarters that PCC accelerated into the current quarter) in order to meet sales targets, and the long-term, negative impact of customer “destocking” on the Company’s business. Defendants deny all allegations of wrongdoing against them.
The Court overseeing the lawsuit recently certified it to proceed as a class action. The certified Class consists of:
All individuals or entities who purchased or otherwise acquired the common stock of Precision Castparts Corp. during the period of May 9, 2013 through January 15, 2015, inclusive (the “Class Period”), and were damaged thereby, except for certain individuals and entities who are excluded from the Class by definition (see paragraph 1 of the Notice).
If you are a member of the Class, your legal rights will be affected whether you act or do not act. Please read the Notice to fully understand your rights and options. The ticker symbol for Precision Castparts is "PCP".
Please Note: This Action is currently ongoing. The Notice (and this website) is not an admission by Defendants or an expression of any opinion by the Court as to the merits of the Action, or a finding by the Court that the claims asserted by the Class Representatives in this Action are valid. The Notice (and this website) are intended only to inform you of the pendency of this Action and of your rights in connection with it, including the right to request exclusion from the Class. There is no judgment, settlement, or monetary recovery at this time, and there is no guarantee there will be any recovery. Defendants have denied Class Representatives’ claims and contend that they are not liable for the harm alleged by Class Representatives on behalf of the Class.
Please be sure to keep all records of your transactions in this security. Neither Class Counsel, the Administrator, nor Defendants have access to your transactional information. PLEASE ALSO DO NOT mail your records to Class Counsel or the Administrator at this time.