LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation on behalf of Garrett Motion Inc. ("Garrett Motion" or the "Company") (NYSE: GTX) investors concerning the Company’s possible violations of federal securities laws.
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On August 26, 2020, Garrett Motion disclosed that it had sought relief from certain financial covenants. However, the Company stated that its “leveraged capital structure poses significant challenges to its overall strategic and financial flexibility and may impair its ability to gain or hold market share in the highly competitive automotive supply market, thereby putting Garrett at a meaningful disadvantage relative to its peers.”
On this news, the Company’s shares fell $3.04 per share, or 44.19%, to close at $3.84 per share on August 26, 2020.
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If you purchased Garrett Motion securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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