Key Developments: Autoliv Inc (ALV)
80.04USD
17 May 2013
$1.85 (+2.37%)
$78.19
$78.82
$80.37
$78.75
387,643
577,252
$80.37
$51.31
Latest Key Developments (Source: Significant Developments)
Levi & Korsinsky Notifies Investors With Losses on Their Investment In Autoliv Inc Of Class Action Lawsuit
Levi & Korsinsky announced that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchasedAutoliv Inc stock between October 26, 2010 and August 1, 2011. Full Article
Autoliv Inc Updates Long-Term Financial Targets
Autoliv Inc announced that the Company has updated its long-term targets. The long-term leverage target is an operating financial leverage ratio of around 1x within a range of 0.5x to 1.5x. This revised debt policy should allow Autoliv to allocate up to USD 1.3 billion (including its current net cash position of close to USD 400 million) for acquisitions to support growth, to return funds to shareholders and be prepared for costs associated with the on-going antitrust investigations. The Company intends to start adjusting towards the new policy in 2013, and plans to be within its target range during 2014. The Company also predicts that its current market should grow by approximately 5% annually to more than USD 27 billion until 2015, and that the same level of growth is not unlikely to continue until 2017. This forecast is based on existing vehicle production plans and current penetration rate trends for automotive passive and active safety systems. The Company's long-term target is to grow its organic sales at least in line with its market. Autoliv also aims to have an operating margin of 8-9% over the business cycles and forecasts its EPS to growth faster than organic sales growth (excluding effects of currency). The Company believes that capital expenditure of 4-5% of sales is needed to support this level of continued growth of the Company. Full Article
Autoliv Inc Introduces New Safety Cameras
Autoliv Inc announced that the Company has developed a Stereo Vision Sensing (SVS) system that provide a three dimensional view of the area in front of a vehicle. As a result, the system calculates the distance to different objects in front of the vehicle and determines the shape and the size of them as well as a direction and speed of objects moving closer to the vehicle. Autoliv’s new system will be used for Autonomously Emergency Braking, Intelligent Speed Assist, Road/Lane departure warning and Pedestrian Protection. It also can do Adaptive Cruise Control, Queue Assist, Light Source Recognition (to automatically control the headlights to avoid blinding oncoming traffic) and Road Surface Monitoring (to automatically adjust the suspension ahead of hitting pot-holes or other bumps). Autoliv starts deliveries of the system in 2015 to European premium vehicle model. Full Article
Law Offices of Todd M. Garber Announces Investigation of Autoliv Inc
The Law Offices of Todd M. Garber announced that it is investigating potential claims on behalf of shareholders of Autoliv Inc concerning possible breaches of fiduciary duties by the Company or its fiduciaries. The investigation focuses on certain statements issued by Autoliv between October 26, 2010 and August 1, 2011 concerning the Company`s business practices with respect to its product pricing and potentially anti-competitive conduct. Full Article
Autoliv Inc Announces New Airbag Manufacturing Plant in Asia
Autoliv Inc announced that the Company has begun the construction of an airbag manufacturing plant in Chonburi, 70 kilometers East of Bangkok. The new facility will be located adjacent to Autoliv’s current airbag facility in Thailand and will be set up as a campus concept with shared resources. The new facility will be 4,800 square meters. The launch of the new facility is planned for September 2013. Investment in this plant is USD 3 million. Full Article
Autoliv Inc Declares Q3 2013 Dividend-DJ
Dow Jones reported that Autoliv Inc declared a quarterly dividend of USD 0.50 per share for Q3 2013. The dividend will be payable on September 5, 2013 to Autoliv shareholders of record on the close of business on August 21, 2013. The ex-date when the shares will trade without the right to the dividend will be August 19, 2013. For Q2 2013 the Company also declared a dividend of USD 0.50 per share. Full Article
Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Autoliv Inc
Ryan & Maniskas, LLP announced that class action has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of Autoliv Inc common stock between October 26, 2010 and August 1, 2011. The complaint alleges that prior to and during the Class Period, Autoliv engaged in wrongful anti-competitive business practices with other automotive industry suppliers. These practices were designed to control the market prices of the products sold by Autoliv and others. As a result, Autoliv reported quarter after quarter record gross margins and earnings during the Class Period, causing artificial inflation in its stock price and seemingly justifying the payment of millions of dollars worth of salary increases and non-equity incentive awards to the Company's executives. Full Article
Faruqi & Faruqi, LLP Announces Investigation Of Potential Securities Fraud At Autoliv Inc
Faruqi & Faruqi, LLP announced that it is investigating potential securities fraud at Autoliv Inc. The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that Autoliv had engaged in unlawful anti-competitive business practices with other automotive industry suppliers designed to manipulate market prices for Autoliv products. Full Article
Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Autoliv Inc
Glancy Binkow & Goldberg LLP announced that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of a class comprising all purchasers of the common stock of Autoliv, Inc between October 26, 2010 and August 1, 2011, inclusive. Full Article
Shanghai Shenda Co Ltd to Form Joint Venture with Autoliv Inc
Shanghai Shenda Co Ltd announced that it will form a joint venture with Autoliv Inc. Shanghai Shenda will invest USD 1.5 million in the joint venture. The joint venture will be engaged in manufacturing of safety belt in Nanjing. Full Article
Autoliv touch more positive on 2013 sales after robust first-quarter
STOCKHOLM - Autoliv, the world's biggest maker of car safety equipment like seatbelts and airbags, was slightly more optimistic about core 2013 sales growth and stuck to its profitability goal after China helped compensate for a drastic European downturn.
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