Company: The lawsuit is pending in the United States District Court, Northern District of Texas, according to Market Watch. The complaint alleges that Trinity and its executives violated federal securities laws by failing to disclose that the Company changed the dimensions of its ET-Plus guardrail product in 2005 without informing the Federal Highway Administration . On October 20, 2014, a federal jury found Trinity liable for concealing information from the U.S. government over modifications made to the Company ET-Plus guardrail systems. TRN, -2.44% of the June 29, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers. The jury found that the Company violations had caused the U.S. government to incur $175 million in damages, making Trinity potentially liable for three times that amount. On April 22, 2015, a Bloomberg news report stated that "the U.S. Justice Department is conducting a criminal investigation into the use of a highway guardrail system linked to at least eight deaths, according to people familiar with the matter, signaling a new wave of potential woes for manufacturer Trinity Industries Inc." On this news, Trinity stock declined $3.43 per share, over 9%, to close at $32.82 per share on April 22, 2015. Additionally, several other states have prohibited further purchases of the guardrail system citing safety concerns.
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