SOURCE: Sarraf Gentile LLP

August 09, 2012 16:03 ET

Sarraf Gentile LLP Announces Lawsuit Against Eaton Corporation

NEW YORK, NY--(Marketwire - Aug 9, 2012) - A class action lawsuit has been filed in the United States District Court for the Northern District of Ohio against Eaton Corporation (NYSE: ETN) and its top officers. The action is brought on behalf of all people who purchased Eaton common stock from August 2, 2009 through June 4, 2012.

The complaint alleges that Eaton issued false and misleading statements concerning its executives' involvement in a scheme to improperly influence a Mississippi state court judge in litigation the Company had initiated against rival manufacturer Frisby Aerospace, Inc. More specifically, the complaint alleges that Eaton managers knew, but repeatedly caused Eaton to deny, that Eaton had engaged Mississippi attorney Ed Peters, a politically connected go-between, to improperly influence Bobby DeLaughter, the presiding judge in the Eaton-Frisby case. Judge DeLaughter, according to the complaint, later recused himself from the case when he became embroiled in an unrelated lawsuit involving Mississippi attorney Richard Scruggs and was later sentenced to 18 months in prison after admitting he lied to FBI 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 that there was "clear and convincing" evidence that Eaton had hired Peters to secretly influence Judge DeLaughter, according to the complaint.

No class has yet been certified in the action. Until a class is certified, you are not represented by counsel unless you retain one. Sarraf Gentile LLP has not filed a lawsuit against the defendants. 

If you are a shareholder of Eaton and want to discuss your legal rights, at no cost and without obligation, please contact Joseph Gentile at Sarraf Gentile LLP (telephone: 212-868-3610; e-mail: joseph@sarrafgentile.com). 

Sarraf Gentile LLP has extensive experience litigating shareholder actions across the United States and has recovered millions of dollars on behalf of injured shareholders. 

NOTE: Sarraf Gentile LLP pledges to donate 10% of any net attorneys' fees earned in connection with this mater to worthy unaffiliated charities. 

Attorney Advertising. Prior results to not guarantee similar outcome.

Contact Information

  • Contact:

    Joseph Gentile, Esq.
    SARRAF GENTILE LLP
    450 Seventh Avenue, Suite 1900
    New York, NY 10123
    T 212.868.3610
    F 212.918.7967
    www.sarrafgentile.com