Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Aerojet Rocketdyne Holdings, Inc. (AJRD) and Encourages Investors to Contact the Firm

NEW YORK--(BUSINESS WIRE)-- Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of all persons or entities who acquired Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD) securities between October 15, 2013 and February 1, 2016, inclusive (the “Class Period”).

Aerojet Rocketdyne designs, develops, manufactures, and sells aerospace and defense products and systems in the United States.

According to the lawsuit, during 2013 through 2015, Aerojet filed several Forms 10-Q and Forms 10-K with the U.S. Securities and Exchange Commission attesting to the accuracy of its financial statements. The suit alleges that these statements were misleading because Aerojet failed to disclose that: (i) the purchase accounting for contracts acquired as part of the acquisition of the Pratt & Whitney Rocketdyne division from United Technologies Corporation in the quarter ended August 31, 2013 was erroneous; (ii) the accounting for changes or modifications to one of the acquired Rocketdyne business contracts was inaccurate; and (iii) as a result, the company’s statements about its business, operations, and prospects lacked a reasonable basis.

On February 1, 2016, the company filed a Form 8-K with the SEC disclosing that consolidated financial statements as of and for the fiscal years ended November 30, 2013 and 2014, and the consolidated financial statements as of and for the quarter ended August 31, 2013, and the consolidated financial statements as of and for the quarters ended February 28, May 31, and August 31, 2014 and 2015 should no longer be relied upon.

Following this news, Aerojet stock fell $0.56 per share, or over 3.6%, to close at $14.68 per share on February 2, 2016.

If you purchased Aerojet securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact J. Brandon Walker, Esq. by email at [email protected], or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information, please go to www.bespc.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160212005918/en/

Bragar Eagel & Squire, P.C.
J. Brandon Walker, Esq., 212-355-4648
[email protected]

Source: Bragar Eagel & Squire, P.C.

You May Also Be Interested In

• Fisker (FSR) files form 10-K, sees more job cuts, reiterates going concern doubts
• Nanometrics (NANO) Issues Business Update, Reports FY23 Results
• Bakkt Holdings, Inc. (BKKT) Announces 1:25 Reverse Share Split