$Trinity Industries (TRN)$ Trinity Industries -9% following report of loss in lawsuit over guardrails
03:45 PM ET • TRN
Trinity Industries (TRN -9.1%) sinks on a Bloomberg report that it lost a trial related to a $1B highway guardrail lawsuit, in which TRN allegedly defrauded the U.S. government of $175M.
In today's closing arguments, TRN was accused of deliberately withholding information from the government about cost-saving changes to its highway guardrail system that transformed one of its products into a potentially lethal highway hazard, wrongly passing off the product as eligible for federal funding.
In July, TRN said it did not believe a loss in the case was probable or that a range of reasonably possible losses exists; no accrual or range of loss had been included.,翻译一下还是不清楚啥意思，损失10亿？