LOS ANGELES, CA / ACCESSWIRE / February 12, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Kobe Steel, Ltd. (OTC PINK: KBSTY) ("Kobe Steel" or "the Company") 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.
Investors who purchased the Company's shares between May 29, 2013 and October 12, 2017, inclusive (the "Class Period"), are encouraged to contact the firm before February 26, 2018, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, 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.
According to the lawsuit, Kobe Steel repeatedly misrepresented the quality of its products and the integrity of its operations during the Class Period by emphasizing that it offers "excellent products and services" with "special attention to product safety" as it has "an organizational culture that is highly sensitive to compliance issues." Defendants' statements pertaining to Kobe Steel's products and performance of its operations were materially false and misleading because Kobe Steel had intentionally falsified data on many of its aluminum, copper, iron and steel products, and knowingly sold products that failed quality control tests.
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.
The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq.
SOURCE: The Schall Law Firm