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 (firstname.lastname@example.org) by email or phone at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
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