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SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Honeywell International Inc. (HON)

/EIN News/ -- NEW YORK, Oct. 22, 2018 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Honeywell International Inc. (“Honeywell” or the “Company”) (NYSE: HON). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/hon.

The investigation concerns whether Honeywell and certain of its officers and/or directors have issued materially misleading business information to the investing public.

On August 23, 2018, Honeywell disclosed that “the Company’s Bendix asbestos-related liability is estimated to be $1,693 million as of June 30, 2018.  This is $1,083 million higher than the Company’s prior estimation.”  Honeywell further advised investors that “Bendix asbestos-related insurance assets are estimated to be $187 million as of June 30, 2018, which is $65 million higher than the Company’s prior estimate.”  Then, on October 19, 2018, Honeywell filed a quarterly report with the U.S. Securities and Exchange Commission (the “SEC”) for the quarter ended September 30, 2018.  In its quarterly report, Honeywell advised investors that the SEC’s Division of Corporate Finance had reviewed Honeywell’s prior accounting for liability for unasserted Bendix-related asbestos claims and that [o]n September 13, 2018, following completion of Corporation Finance’s review, the SEC Division of Enforcement advised that it has opened an investigation related to this matter.  On this news, Honeywell’s stock price fell $1.72 per share, or 1.11%, to close at $153.47 on October 19, 2018.

If you are aware of any facts relating to this investigation, or purchased shares of Honeywell, you can assist this investigation by visiting the firm’s site: www.bgandg.com/hon.  You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484. 

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com

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