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 (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@example.com or firstname.lastname@example.org.
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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.
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