Shareholder rights law firm Robbins Arroyo LLP informs investors of the class action complaint filed against Mueller Water Products, Inc. (NYSE: MWA) for alleged violations of the Securities Exchange Act of 1934 between May 9, 2016 and August 6, 2018. Mueller is a manufacturer of products and services used in the transmission, distribution and measurement of water in North America.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/mueller-water-products-inc/
Mueller Accused of Misleading Investors Regarding Product Quality
According to the complaint, in April 2017, in connection with its second quarter 2017 financial results, Mueller disclosed that its radio products produced between 2011 and 2014 had been failing prematurely, resulting in a $9.8 million warranty charge. On this news, Muellers share price fell more than 11% to close at $11.25 per share on April 28, 2017. Then, on August 6, 2018, in connection with its third quarter 2018 financial results, the Company reported a $14.1 million warranty charge. On this news, Muellerss share price fell 6% to close at $11.58 per share on August 7, 2018, and continues to trade below the class period high.
Mueller Shareholders Have Legal Options
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Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leo Kandinov at (800) 350-6003, [email protected], or via the shareholder information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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