INVESTIGATION REMINDER: The Schall Law Firm Announces it is Investigating Claims Against A.O. Smith Corporation and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
LOS ANGELES--(BUSINESS WIRE)--May 17, 2019--
The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of A.O. Smith Corporation (“A.O. Smith” or “the Company”) (NYSE: AOS ) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. J. Capital published a report on May 16, 2019, that alleged that A.O. Smith has an undisclosed partner called Jiangsu UTP Supply Chain. The partner allowed the Company to “stuff” distributors, and artificially increase gross margins. The report also alleged that the Company “failed to disclose the sharp decline under way in China, where sales will fall 16-21% this year”, “over-reported sales and under-reported inventory since at least 2015”, and “has major governance problems both inside and outside China.” Based on this report, shares of A.O. Smith dropped by more than 6% on the same day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190517005432/en/
CONTACT: The Schall Law Firm
Brian Schall, Esq.
Rina Restaino, Esq.
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: The Schall Law Firm
Copyright Business Wire 2019.
PUB: 05/17/2019 12:39 PM/DISC: 05/17/2019 12:39 PM