SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses In Excess Of $100,000 From Investment In Shiloh Industri...
2015年10月7日 - 6:43AM
ビジネスワイヤ(英語)
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court for the Southern
District of New York on behalf of purchasers of Shiloh Industries
Inc. (NasdaqGS: SHLO) (“Shiloh” or the “Company”) securities during
the period between March 9, 2015 and September 14, 2015, inclusive
(the “Class Period”). Investors who wish to become proactively
involved in the litigation have until November 20, 2015 to seek
appointment as lead plaintiff.
If you have suffered a loss from investment in Shiloh securities
purchased on or after March 9, 2015 and held through the revelation
of negative information during and/or at the end of the Class
Period, as described below, and would like to learn more about this
lawsuit and your ability to participate as a lead plaintiff,
without cost or obligation to you, please visit our website at
http://www.browerpiven.com/currentsecuritiescases.html. You may
also request more information by contacting Brower Piven either by
email at hoffman@browerpiven.com or by telephone at (410) 415-6616.
No class has yet been certified in the above action. Members of the
Class will be represented by the lead plaintiff and counsel chosen
by the lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from
investment in Company securities during the Class Period. Brower
Piven also encourages anyone with information regarding the
Company’s conduct during the period in question to contact the
firm, including whistleblowers, former employees, shareholders and
others.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that Shiloh had
underreported the cost related to its manufacturing of products and
engaged in irregular accounting practices related to surcharges
assessed on steel at its facility in Wellington, Ohio such that its
earnings and income were overstated.
According to the complaint, following the Company’s September 9,
2015 disclosure that the Company would be unable to file its
quarterly report for the period ending July 31, 2015 because of an
ongoing investigation into its accounting for certain costs at its
facility in Wellington, Ohio, and following the Company’s September
14, 2015 disclosure that the Company would need to restate its
income for the quarters ending January 31, 2015 and April 30, 2015
by over $2 million, the value of Shiloh shares declined
significantly.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151006006955/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
Shiloh Industries (NASDAQ:SHLO)
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