TransDigm Hit With Investor Suit Alleging Price-Gouging
Law360, Washington (August 10, 2017, 6:37 PM EDT) -- An Ohio firefighters’ pension fund Thursday brought a putative class action against TransDigm Group Inc. and its top executives in federal court, alleging the aerospace manufacturing company artificially inflated profits by gouging the U.S. government, causing the company’s stock price to plummet in January when the scheme was made public.
The City of Hollywood Firefighters’ Pension Fund told an Ohio federal judge TransDigm engaged in a business model that relied on making “private-equity-like” acquisitions of proprietary aerospace products in order to monopolize supply and drastically jack up the prices of the goods, including on sales to its largest customer, the federal...
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