Mueller Water Products, Inc. (NYSE: MWA) Investor Securities Class Action Lawsuit 04/11/2019

If you purchased a significant amount of shares of Mueller Water Products, Inc. (NYSE: MWA) between May 9, 2016, and August 6, 2018, and / or if you purchased any NYSE: MWA shares prior to May 2016 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: June 10, 2019. NYSE: MWA investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Mueller Water Products
Case Name: 
Mueller Water Products Shareholder Class Action Lawsuit 04/11/2019
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: MWA
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
04/11/2019
Class Period Begin: 
05/09/2016
Class Period End: 
08/06/2018
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
06/10/2019
Summary: 

An investor in shares of Mueller Water Products, Inc. (NYSE: MWA) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Mueller Water Products, Inc. in connection with certain allegedly false and misleading statements made between May 9, 2016, and August 6, 2018.

Atlanta, GA based Mueller Water Products, Inc. manufactures and markets products and services for use in the transmission, distribution, and measurement of water in the United States, Canada, and internationally. On April 27, 2017, in connection with its second quarter 2017 financial results, Mueller Water Products, Inc. disclosed that its radio products produced between 2011 and 2014 had been failing prematurely, resulting in a $9.8 million warranty charge.

Shares of Mueller Water Products, Inc. declined to close at $11.25 per share on April 28, 2017.

Then, on August 6, 2018, in connection with its third quarter 2018 financial results, Mueller Water Products, Inc. reported a $14.1 million warranty charge.

Shares of Mueller Water Products, Inc. declined $0.74 per share, or 6%, to close at $11.58 per share on August 7, 2018.

On November 5, 2018, Mueller Water Products, Inc. announced its financial results for its 2018 fourth quarter and fiscal year. Mueller Water Products, Inc. reported that its Total Revenue rose from $826 million for the 12 months period that ended on September 30, 2017 to as high as $916 million for the 12 months period that ended on September 30, 2018 and that its Net Income for those respective time periods declined from $123.3 million to $105.6 million.

Shares of Mueller Water Products, Inc. (NYSE: MWA) declined from $12.55 per share in August 2018 to as low as $8.47 per share in December 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Mueller Water Products, Inc. (NYSE: MWA) common shares between May 9, 2016, and August 6, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 9, 2016, and August 6, 2018, the Defendants made false and/or misleading statements and/or failed to disclose that the Company lacked adequate testing for product quality, that certain products with radio components were susceptible to fail prematurely, that, as a result, the Company was reasonably likely to incur increased expenses, including warranty costs, that these costs would materially impact the Company’s financial statements, that the Company lacked adequate internal controls over warranty costs and estimates, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.