DALLAS – October 2, 2017 – Trinity Industries, Inc. (NYSE:TRN) announced today that on September 29, 2017, the United States Court of Appeals for the Fifth Circuit (“Fifth Circuit”) ruled that Trinity Industries, Inc. and Trinity Highway Products, LLC (together, the "Company") did not commit fraud, reversing the District Court’s $682.4 million False Claims Act judgment and rendering judgment for the Company.
The Company is pleased with the panel’s unanimous opinion reversing the judgment. As the Fifth Circuit noted, the federal government has consistently reaffirmed the ET Plus® System meets all federal safety performance standards. This ruling confirms our long-standing belief that no fraud was committed.
Please refer to the Company’s Form 8-K issued contemporaneously with this Press Release as well as Note 18 to the financial statements in Trinity’s Form 10-K for the period ended December 31, 2016, and Form 10-Q for the period ended June 30, 2017, for additional information about Joshua Harman, on behalf of the United States of America, Plaintiff/Relator v. Trinity Industries, Inc., Defendant and the Company’s highway products and other litigation...Read More