Johnson Fistel, Announces Investigation of BorgWarner Inc. (BWA) and Filing of Securities Class Action Lawsuit Against Unum Group (UNM); Investors Encouraged to Contact Firm
SAN DIEGO, June 16, 2018 /PRNewswire/ -- Shareholder Rights Law Firm Johnson Fistel, LLP is investigating potential claims against BorgWarner Inc., and Unum Group, as detailed below:
BorgWarner Inc.
Shareholder Rights Law Firm Johnson Fistel, LLP is investigating potential claims on behalf of purchasers of BorgWarner Inc. (NYSE: BWA) ("BorgWarner").
On June 15, 2018, BorgWarner stated that it would restate its financial statements for fiscal years 2015 and 2016 for the accounting of its asbestos-related charges. The company said it did not record the estimated liability before the fourth quarter of 2016 due to a material weakness in its internal control over financial reporting. BorgWarner also indicated it had been in discussions with the U.S. Securities and Exchange Commission since 2017 over the accounting issue.
Following this news, shares of BorgWarner fell significantly on June 15, 2018.
If you have information that could assist in this investigation, including former employees and others, and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (jimb@johnsonfistel.com) by email or by phone at 619-814-4471. If you email, please include your phone number.
Unum Group
Shareholder Rights Law Firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of persons or entities who purchased or otherwise acquired securities of Unum Group ("Unum") (NYSE: UNM) between January 31, 2018 and May 2, 2018 ("the Class Period").
According to the lawsuit, throughout the Class Period defendants made false and misleading statements and failed to disclose that: (1) Unum was experiencing a higher claims incidence for its long-term care business; (2) Unum was experiencing less favorable policy terminations in connection with its long-term care business; (3) Unum's long-term care business loss ratio would reach the upper 90% range; and (4) as a result of the foregoing, defendants' statements about Unum's business, operations, and prospects, including statements related to Unum's long-term care reserves and capital management plans, were materially false and misleading and lacked a reasonable basis.
Shareholders have until August 13, 2018, to petition the court for lead plaintiff status.
If you purchased shares of Unum between January 31, 2018 and May 2, 2018, or if you are an Unum shareholder continuously holding shares before January 31, 2018, and are interested in learning more about your legal rights and remedies, please contact Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If you email, please include your phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
SOURCE Johnson Fistel, LLP
