Adient Gets Shareholders’ Securities Fraud Claims Dismissed

Adient PLC won dismissal of shareholder securities fraud claims after the Southern District of New York found that the plaintiffs failed to show the company made any false or misleading statements about a division that was later spun off.

The plaintiffs failed to show that the automotive seating manufacturing company’s statements about its “metals” division were unreasonable, let alone false, the U.S. District Court for the Southern District of New York said Thursday.

The metals division manufactured seat frames and seat mechanisms, including recliners, tracks, and height adjusters.

Although the company projected in the fall of 2016 that it would ...