IMPORTANT INVESTOR ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against A.O. Smith Corporation and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
LOS ANGELES–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24AOS&src=ctag” target=”_blank”gt;$AOSlt;/agt; lt;a href=”https://twitter.com/hashtag/AOS?src=hash” target=”_blank”gt;#AOSlt;/agt;–The
Schall Law Firm, a national shareholder rights litigation firm,
announces the filing of a class action lawsuit against 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.
Investors who purchased the Company’s shares between July 26, 2016 and
May 16, 2019, inclusive (the “Class Period”), are encouraged to contact
the firm before July 29, 2019.
If you are a shareholder who suffered a loss, click
here to participate.
We also encourage you to contact Brian Schall 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 brian@schallfirm.com.
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 Complaint, the Company made false and misleading
statements to the market. A.O. Smith maintained undisclosed connections
with Jiangsu UTP Supply Chain (“UTP”). The Company completed 75% of its
China product sales through UTP. A.O. Smith and UTP conspired to engage
in channel stuffing by inflating inventories to about double their
normal levels. The Company used the UTP relationship in inflate sales by
as much as 8% and to conceal worsening sales in China. The Company
increased its China cash reserves by $530 million to engage in its
channel stuffing and sales manipulation scheme. Based on these facts,
the Company’s public statements were false and materially misleading
throughout the class period. When the market learned the truth about
A.O. Smith, investors suffered damages.
Join
the case to recover your losses.
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.
www.schallfirm.com
Office:
310-301-3335
Cell: 424-303-1964
info@schallfirm.com