NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of A.O. Smith Corporation (NYSE: AOS) resulting from allegations that A.O. Smith may have issued materially misleading business information to the investing public.
On May 16, 2019, J. Capital published a report alleging that A.O. Smith has a material undisclosed partner, Jiangsu UTP Supply Chain, that acts like the Company and allows it to “stuff” distributors and inflate gross margins. The report further alleged that A.O. Smith “[f]ailed to disclose the sharp decline under way in China, where sales will fall 16-21% this year”, “[o]ver-reported sales and under-reported inventory since at least 2015”, and “has major governance problems both inside and outside China.”
On this news, A.O. Smith’s stock price fell $3.02 per share, or 6.27%, to close at $44.27 per share on May 16, 2019.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by A.O. Smith investors. If you purchased shares of A.O. Smith please visit the firm’s website at http://www.rosenlegal.com/cases-register-1575.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.