Investigation Overview
An investigation on behalf of investors of W.W. Grainger, Inc. (NYSE: GWW) shares over potential securities laws violations by W.W. Grainger, Inc. and certain of its directors and officers in connection with certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of W.W. Grainger, Inc. (NYSE: GWW) concerning whether a series of statements by W.W. Grainger, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Lake Forest, IL based W.W. Grainger, Inc. distributes maintenance, repair, and operating (MRO) supplies; and other related products and services that are used by businesses and institutions in the United States, Canada, Europe, Asia, and Latin America. W.W. Grainger, Inc. reported that its annual Total Revenue rose from over $10.13 billion in 2016 to over $10.42 billion in 2017 and that its Net Income declined from $605.92 million in 2016 to $585.73 million in 2017.
Shares of W.W. Grainger, Inc. (NYSE: GWW) reached as high as $361.17 per share on October 1, 2018.
On October 16, 2018, W.W. Grainger reported the Company's financial and operating results for the third quarter of 2018. Among other results, W.W. Grainger reported earnings of $104.4 million, or $1.82 per share, down 36% from a year earlier, citing a $139 million impairment charge related to the Cromwell business in the U.K., reflecting a slower growth trajectory and structural issues