SAN DIEGO--(BUSINESS WIRE)--Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by CaesarStone Sdot-Yam Ltd. (NASDAQ: CSTE) and certain of its officers. CaesarStone manufactures and sells engineered quartz surfaces internationally.
On August 19, 2015, a report was issued by Spruce Point Capital Management claiming that: (1) a Freedom of Information Act request showed that the cost of quartz increased approximately 20% in 2014, however CaesarStone stated in its SEC filings that the impact was just 4%; (2) independent lab tests revealed that CaesarStone’s samples may contain less quartz than advertised; (3) CaesarStone’s reported consolidated margins may be overstated; (4) proprietary U.S. import shipping data collected from port documents indicated that CaesarStone’s North American market share may not be growing as claimed; and (5) CaesarStone's recent inspection reports exposed audit deficiencies related to revenue and inventory controls. On the news, CaesarStone closed down over 7% on August 19, 2015.
If you have information that could assist in this investigation, or if you are a CaesarStone shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (email@example.com) by email or phone at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.