Delphi Alert: Johnson Fistel Launches Investigation into Delphi Technologies PLC; Investors Suffering Losses Encouraged to Contact Firm

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Mar 31, 2020, 09:52 ET

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 ([email protected]) at 619-814-4471. If emailing, please include a phone number.

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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
[email protected]

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SOURCE Johnson Fistel, LLP