SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

August 07, 2012 10:50 ET

Levi & Korsinsky Notifies Investors With Losses on Their Investment in Eaton Corporation of Class Action Lawsuit and the Deadline of October 2, 2012 to Seek a Lead Plaintiff Position

NEW YORK, NY--(Marketwire - Aug 7, 2012) - Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of Ohio on behalf of investors who purchased Eaton Corporation (NYSE: ETN) common stock between August 9, 2009 and June 4, 2012.

For more information, click here: http://zlk.9nl.com/eaton-corporation/. There is no cost or obligation to you.

The complaint alleges that Eaton managers knew but repeatedly denied that the Company had engaged attorney Ed Peters to improperly influence Bobby DeLaughter, the presiding judge overseeing the litigation the Company had initiated against rival manufacturer Frisby Aerospace, Inc. DeLaughter recused himself from the case when he became embroiled in an unrelated lawsuit involving attorney Richard Scruggs. DeLaughter was sentenced to 18 months in prison after he admitted lying to Federal agents about conversations he had with Peters in the Scruggs case. Judge Swan Yerger, who replaced Judge DeLaughter, subsequently dismissed Eaton's lawsuit against Frisby after deciding there was "clear and convincing" evidence that Eaton had hired Peters to secretly influence DeLaughter.

On May 31, 2012, Eaton's CEO and senior executives admitted in court filings that Eaton had failed to produce records showing that the Company had improperly, and possibly illegally, attempted to influence Judge DeLaughter. On this news, Eaton shares declined $3.10, or 7.2%, to close at $40.24 on June 1, 2012.

If you suffered a loss in Eaton you have until October 2, 2012 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/eaton-corporation/.

Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph Levi, Esq.
    Eduard Korsinsky, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com