NEW YORK, Oct. 19, 2018 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of W.W. Grainger, Inc. ("Grainger" or the "Company") (NYSE: GWW). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Grainger and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here to join a class action]
On October 16, 2018, W.W. Grainger reported the Company's financial and operating results for the third quarter of 2018. Among other results, W.W. Grainger reported earnings of $104.4 million, or $1.82 per share, down 36% from a year earlier, citing a $139 million impairment charge related to its Cromwell business in the U.K., reflecting a slower growth trajectory and structural issues.
Following this news, W.W. Grainger's stock price fell $38.00 per share, or 11.95%, to close at $280.01 per share on October 16, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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