Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in Mueller Water Products (NYSE:MWA) in connection to alleged violations of securities laws by MWA. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in Mueller Water Products between May 9, 2016 and August 6, 2018.
The class action complaint specifically alleges that during the period in question, MWA provided false and/or misleading material information and/or failed to disclose adverse material information to the public, namely: that the company did not have proper product quality testing processes; that some of the company’s products involving radio technology were subject to early failure; that consequently the company stood to incur higher expenses, such as warranty costs; that these expenses would bear a material impact on the company’s financial statements; that the company did not have proper internal controls governing warranty costs and estimates of such; and that consequently the company’s statements to the public during the relevant period were false and misleading. The complaint alleges that when true facts emerged, investors suffered losses.
According to the company’s website, Mueller Water Products is a company involved in the manufacture and marketing of “products and services used in the transmission, distribution and measurement of water in North America.” Its products and services include fire hydrants, metering systems, valves, leak detection systems, and pipe condition assessment systems. The company, which serves municipalities, describes itself as the leading provider of water infrastructure and flow control products in North America, as well as one of the biggest installed bases of fire hydrants and gate valves in the United States, with valves or hydrants in “100 [of the] largest US metropolitan areas.” It trades on the New York Stock Exchange under the symbol MWA.
A class action lawsuit has already been filed in connection with Mueller Water Products. If you wish to serve as lead plaintiff in the MWA lawsuit, you must move the Court no later than June 10, 2019. If you wish to join the litigation, please contact Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.