KSF News, Updates, & Insights
KSF Appointed Lead Counsel in Honeywell International Inc. Securities Litigation
On December 16, 2019, Hon. William J. Martini, United States District Judge for the District of New Jersey, ordered KSF’s appointment as lead counsel for the class in Kanefsky v. Honeywell International Inc. et al., Case No. 2:18-cv-15536-WJM-JAD (D. N.J.). Lead Plaintiff alleges that, throughout the Class Period (February 9, 2018 through October 19, 2018, inclusive), Defendants made materially false and misleading statements and failed to disclose material information regarding Honeywell’s liabilities relating to former subsidiary Bendix Friction Materials’ use of asbestos in certain automotive products. The matter further alleges that when the truth was finally brought to light on October 19, 2018 (after Honeywell released its quarterly report for the third quarter of 2018), the stock fell from an opening price of $151.25 per share to $140.83 per share as of market close on October 24, 2018.