LOS ANGELES–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24AOS&src=ctag” target=”_blank”gt;$AOSlt;/agt; lt;a href=”https://twitter.com/hashtag/AOSmith?src=hash” target=”_blank”gt;#AOSmithlt;/agt;–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 [email protected].
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.
Contacts
The Schall Law Firm
Brian Schall, Esq.
Rina Restaino, Esq.
310-301-3335
Cell:
424-303-1964
[email protected]
www.schallfirm.com
