NEW ORLEANS–(BUSINESS WIRE)–Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Honeywell International Inc. (NYSE: HON).
On August 23, 2018, the Company disclosed that its asbestos-related liability was estimated to be $1,083 million higher than previous estimates. Then, on October 19, 2018, the Company revealed that the Securities and Exchange Commission (“SEC”) was investigating its accounting practices for asbestos-related liabilities. Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit charging them with failing to disclose material information during the Class Period, violating federal securities law, which remains ongoing.
Recently, on July 18, 2019, the Company disclosed that it is under investigation by U.S. and Brazilian authorities focusing on “compliance with the U.S. Foreign Corrupt Practices Act and similar Brazilian laws” and that “[t]he DOJ and the SEC are also examining a matter involving a foreign subsidiary’s prior engagement of Unaoil S.A.M. in Algeria.”
KSF’s investigation is focusing on whether Honeywell’s officers and/or directors breached their fiduciary duties to Honeywell’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Honeywell shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-hon/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner