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Levi & Korsinsky announces it has commenced an investigation of W.W. Grainger, Inc. (“W.W. Grainger” or “the Company”) (NYSE: GWW) concerning possible violations of federal securities laws.
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. Following this news, W.W. Grainger’s stock price fell $38.00 per share, or 11.95%, to close at $280.01 per share on October 16, 2018.