The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Garrett Motion Inc. (NYSE: GTX) securities between October 1, 2018 and September 18, 2020.
According to the Garrett Motion lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) due to its agreement to indemnify and reimburse Honeywell for certain asbestos-related liability, Garrett was saddled with an unsustainable level of debt; (2) as a result, Garrett had a highly leveraged capital structure that posed significant challenges to its overall strategic and financial flexibility; (3) as a result of the foregoing, Garrett’s ability to gain or hold market share was impaired; (4) as a result of the foregoing, the Company was reasonably likely to seek bankruptcy protection; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you suffered a loss in Garrett Motion you have until November 24, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn\'t require that you serve as a lead plaintiff.
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