NEW YORK, July 01, 2016 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Gerdau S.A. securities (NYSE:GGB) from June 2, 2011 through May 15, 2016, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Gerdau investors under the federal securities laws.
To join the Gerdau class action, go to the firm’s website at http://rosenlegal.com/cases-898.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for more information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period defendants issued false and misleading statements to investors and/or failed to disclose that: (1) Gerdau was engaged in a bribery scheme in collusion with Brazil's Board of Tax Appeals; (2) Gerdau had defrauded Brazilian tax authorities of roughly $429 million in taxes; (3) Gerdau’s Chief Executive Officer, Defendant André Bier Gerdau Johannpeter and other directors and employees of Gerdau had engaged in bribery, money laundering, and influence peddling; and (4) as a result, Gerdau’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 25, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to the firm’s website at http://rosenlegal.com/cases-898.html for more information. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.