The Shareholders Foundation announces that an investigation on behalf of investors of Tenneco Inc (NYSE:TEN) shares was initiated over potential securities laws violations.
Investors who purchased shares of Tenneco Inc (NYSE:TEN) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Tenneco Inc (NYSE:TEN) concerning whether a series of statements by Tenneco regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Tenneco Inc reported that its annual Total Revenue rose from over $7.36 billion in 2012 to over $7.96 billion in 2013 while that its respective Net Income declined from $275.00 million to $183.00 million. Shares of Tenneco Inc (NYSE:TEN) grew from $25.55 per share in June 2012 to as high as $62.31 per share on March 6, 2014.
Then on March 25, 2014, Tenneco Inc confirmed that authorities in Europe and the United States have requested information as part of an ongoing global antitrust investigation concerning multiple automotive suppliers. Tenneco Inc said that representatives of the European Commission were at Tenneco GmbH’s Edenkoben, Germany administrative facility to gather information in connection with the investigation and that Tenneco Inc has also received a related subpoena from the U.S. Department of Justice.
Shares of Tenneco Inc declined to $55.09 per share on March 25, 2014. On April 14, 2014, NYSE:TEN shares closed at $57.94 per share.
Those who purchased shares of Tenneco Inc have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com