AP NEWS

Deadline Alert: The Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Honeywell International Inc.

November 15, 2018

BENSALEM, Pa.--(BUSINESS WIRE)--Nov 14, 2018--Law Offices of Howard G. Smith reminds investors of the January 2, 2019  deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Honeywell International Inc.   (“Honeywell” or the “Company”) (NYSE: HON ) securities between  February 9, 2018 and October 19, 2018,  inclusive (the “Class Period”). Honeywell investors have until  January 2, 2019 to file a lead plaintiff motion.

Investors suffering losses on their Honeywell investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On August 23, 2018, Honeywell announced 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 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 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 stated 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.” On this news, shares of Honeywell stock fell $1.72 per share, or 1.11%, to close at $153.47 on October 19, 2018, thereby injuring investors.

The complaint filed in this class action alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Honeywell’s Bendix asbestos-related liability was greater than initially reported; (2) Honeywell maintained improper accounting practices in connection with its Bendix asbestos-related liability; and (3) as a result, Honeywell’s public statements were materially false and misleading at all relevant times.

If you purchased shares of Honeywell during the Class Period you may move the Court no later than  January 2, 2019  to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you 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  howardsmith@howardsmithlaw.com, or visit our website at  http://www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181114006020/en/

CONTACT: Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

howardsmith@howardsmithlaw.com

www.howardsmithlaw.com

KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Law Offices of Howard G. Smith

Copyright Business Wire 2018.

PUB: 11/14/2018 09:20 PM/DISC: 11/14/2018 09:20 PM

http://www.businesswire.com/news/home/20181114006020/en

AP RADIO
Update hourly