NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces it is
investigating potential securities claims on behalf of shareholders of
A.O. Smith Corporation (NYSE: AOS) resulting from allegations that A.O.
Smith may have issued materially misleading business information to the
investing public.
On May 16, 2019, J. Capital published a report alleging that A.O. Smith
has a material undisclosed partner, Jiangsu UTP Supply Chain, that acts
like the Company and allows it to “stuff” distributors and inflate gross
margins. The report further alleged that A.O. Smith “[f]ailed to
disclose the sharp decline under way in China, where sales will fall
16-21% this year”, “[o]ver-reported sales and under-reported inventory
since at least 2015”, and “has major governance problems both inside and
outside China.”
On this news, A.O. Smith’s stock price fell $3.02 per share, or 6.27%,
to close at $44.27 per share on May 16, 2019.
Rosen Law Firm is preparing a class action lawsuit to recover losses
suffered by A.O. Smith investors. If you purchased shares of A.O. Smith
please visit the firm’s website at http://www.rosenlegal.com/cases-register-1575.html
to join the class action. You may also contact Phillip Kim of Rosen Law
Firm toll free at 866-767-3653 or via email at [email protected]
or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class
Action Services for number of securities class action settlements in
2017. The firm has been ranked in the top 3 each year since 2013. Rosen
Law Firm has secured hundreds of millions of dollars for investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contacts
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275
Madison Avenue, 34th Floor
New York, NY 10016
Tel:
(212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com
