Here's Why Trinity Industries Inc's Stock Is Surging Today
Shares of Trinity Industries (NYSE: TRN) spiked on Monday morning and were up more than 10% at 10:45 a.m. EDT. Driving the gains was the reversal of a $682.4 million fraud judgment against the company; analysts saw the ruling as a huge positive.
Trinity Industries announced that a U.S. Court of Appeals ruled that it didn't commit fraud and sell defective guardrails to the U.S. government. That ruling reversed a Federal District Court's $682.4 million judgment against the company after the panel found that the federal government consistently reaffirmed that Trinity's ET Plus System met all federal safety performance standards.
Image source: Getty Images.
Source: Fool.com
Trinity Industries Inc. Aktie
28,80 €
4,35 %
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