Investor Sues Honeywell Over Asbestos-Linked Stock Drop

Law360 (November 1, 2018, 5:35 PM EDT) -- A stockholder in Honeywell International Inc. has filed a putative class action in New Jersey federal court alleging executives delayed revealing billions of dollars in looming liability the company faced over an automotive brake manufacturer it once owned that used asbestos in its materials.

Plaintiff David Kanefsky stated in his suit filed Wednesday that he is representing anyone who purchased Honeywell securities from Feb. 9 through Oct. 19 without being told all they should have been about Bendix Friction Materials, a company the aerospace and engineering conglomerate sold in 2014.

Bendix used asbestos in its brake and clutch pad products until...

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New Jersey

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October 31, 2018

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