Law Offices of Howard G. Smith announces an investigation on behalf of Adient plc (Adient or the Company) (NYSE: ADNT) investors concerning the Company and its officers possible violations of federal securities laws.
On January 17, 2018, the Company revealed that its near-term results are being significantly impacted by the Company’s capital-intensive seat structures and mechanisms (SS&M) business. On this news, shares of Adient dropped 10%. Then on January 29, 2018, Adient announced poor financial results for the first quarter of 2018, attributing the inadequate results to problems in SS&M. On this news, shares of Adient fell $5.53, nearly 7.6%, to close at $66.77.
On May 3, 2018, Adient revealed a $279 million net impairment charge related to the SS&M business and confessed that the 200 basis points of margin expansion . . . is no longer going to be achievable. On this news, Adient stock dropped 9.9%, to close at $55.84.
Finally, on June 11, 2018, Adient announced the resignation of its CEO and reduced its earnings guidance. On this news, shares of Adient fell $8.88, or 15.6%, to close at $48.10, thereby injuring investors.
If you purchased Adient securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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