Scott+Scott Attorneys at Law LLP Reminds Investors of Securities Class Action Against Honeywell International Inc. (HON) and Lead Plaintiff Deadline of January 2

NEW YORK, Nov. 29, 2018

Honeywell makes a variety of commercial and consumer products, engineering services, and aerospace systems.   Until 2014, Honeywell owned Bendix Friction Materials ("Bendix").  Despite known health hazards, Bendix used asbestos in its brake- and clutch-pad products until 2001.

According to the lawsuit, defendants made materially false and misleading statements regarding Honeywell's business, operational and compliance policies, specifically: (i) Honeywell's Bendix asbestos-related liability was greater than initially reported; and (ii) the Company maintained improper accounting practices in connection with its Bendix asbestos-related liability.

On October 19, 2018, Honeywell filed a quarterly report in which it disclosed 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 from its previous close, or 1.1%, to close at $153.47 per share on October 19, 2018.  Over the following three trading days, Honeywell's stock price fell an additional $8.13, or nearly 5.3%, to close at $145.34 per share on October 24, 2018.

What You Can Do

If you purchased Honeywell securities between February 9, 2018 and October 19, 2018, inclusive, or if you have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at jpettigrew@scott-scott.com.