SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Donaldson Company, Inc. - DCI

NEW YORK, Oct. 5, 2015

The investigation concerns whether Donaldson Company and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. 

On September 29, 2015, Donaldson announced that it was temporarily unable to file its annual report, after receiving reports from two former employees that revenue for a project in the European Gas Turbine Products business was improperly recognized in the second quarter of fiscal year 2015.  An internal investigation by the company has verified the substance of the report and identified additional revenue transactions involving the same improper practices. The Audit Committee of the Board has engaged independent counsel and forensic accountants to continue the investigation, which is still ongoing. Based on the investigation's findings to date, the company has concluded that documents were altered with the intent to inappropriately recognize revenue for certain transactions in periods earlier than would be allowable under generally accepted accounting principles. There is also an indication that there may have been purposeful deferring of certain charges from suppliers to later time periods than appropriate. 

On this news, the company's stock has fallen roughly $1.02, or 3.38%, in after-hours trading on September 29, 2015.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, 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 70 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