NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. is investigating potential claims against Kobe Steel, Ltd. (OTC:KBSTY). Our investigation concerns whether Kobe Steel has violated the federal securities laws and/or engaged in other unlawful business practices.
On October 8, 2017, Kobe Steel announced that “a portion of the products traded with customers did not comply with the product specifications, which were agreed between the Company and its customers.” According to the Company, this information had come to light following emergency quality audits of the compliance status of contracts executed as to products shipped over the past year.
Following this news, American Depositary Receipts (“ADRs”) of Kobe Steel fell $1.92 per share over two trading days, or over 32%, to close at $4.00 per share on October 10, 2017.
If you purchased or otherwise acquired Kobe Steel ADRs and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into Kobe Steel please go to http://www.bespc.com/kobe. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.