NEW YORK, May 16, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. is investigating potential claims against A. O. Smith Corporation (NYSE: AOS) on behalf of AOS stockholders. Our investigation concerns whether AOS has violated the federal securities laws and/or engaged in other unlawful business practices.
Click here to participate in the action.
On May 16, 2019, J Capital published a report addressing AOS, asserting that AOS “has handed its China business over to a Chinese company without disclosing this to investors.” J Capital further alleged that AOS “[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, AOS’s stock price fell by more than 9%, closing at $45.12 on May 16, 2019.
If you purchased or otherwise acquired AOS American Depository Shares (“ADSs”) 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 investigations@bespc.com, 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 AOS please go to http://www.bespc.com/aos/. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com