SAN DIEGO, March 31, 2020 /PRNewswire/ -- Shareholder Rights
Law Firm Johnson Fistel, LLP, is investigating potential claims
against Delphi Technologies PLC ("Delphi" or the "Company") (NYSE:
DLPH) for violations of federal securities laws.
On March 31, 2020, Delphi
announced that it received notice from BorgWarner regarding the
Company's decision to draw on its credit facility. Borg Warner claims that Delphi's decision to
draw on its credit facility represents a material breach of the
buyout agreement announced earlier this year. Delphi stated that it
"determined it was prudent and in the best interests of the Company
and its shareholders to draw down on its full $500 million revolving credit facility to best
position the Company to weather the current market conditions."
Following this news, Delphi stock plummeted 28% in premarket
trading on March 31, 2020.
Specifically, Johnson Fistel's
investigation seeks to determine if Delphi violated its merger
agreement with Borg Warner.
If you have information that could assist in this
investigation, or if you are a Delphi shareholder and
are interested in learning more about the investigation, please
contact Jim Baker
(jimb@johnsonfistel.com) at 619-814-4471. If emailing, please
include a phone number.
Additionally, you can [Click here to join this action].
There is no cost or obligation to you.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a
nationally recognized shareholder rights law firm with offices in
California, New York and Georgia. The firm represents individual and
institutional investors in shareholder derivative and securities
class action lawsuits. For more information about the firm and its
attorneys, please visit http://www.johnsonfistel.com. Attorney
advertising. Past results do not guarantee future outcomes.
Contact:
Johnson
Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
[Click here to join this action]
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SOURCE Johnson Fistel, LLP