Glancy Prongay & Murray LLP Reminds Investors of the Lead Plaintiff Deadline in the Class Action Lawsuit Against Shiloh Industries Inc.
By Business Wire News
By Business Wire News
Glancy Prongay & Murray LLP (“GPM”) reminds investors that a class action complaint has been filed on behalf of a class of Shiloh Industries Inc. (“Shiloh” or the “Company”) (Nasdaq: SHLO) investors who purchased shares between March 9, 2015 and September 14, 2015, inclusive (the “Class Period”). Shiloh investors have until November 20, 2015 to file a lead plaintiff motion. Shiloh investors with losses over $50,000 are encouraged to contact GPM to discuss their legal rights.
Shiloh manufactures and distributes lightweighting, noise and vibration solutions to automotive, commercial vehicle and other industrial markets.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company had underreported the cost related to its manufacturing of products; (2) that the Company engaged in irregular accounting practices related to surcharges assessed on steel at the Company’s facility in Wellington, Ohio; (3) that, as a result, the Company’s earnings and income were overstated; (4) that the Company lacked adequate internal controls over financial reporting; and (5) that, as a result of the foregoing, Defendants’ statements about Shiloh’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. Upon disclosure of these issues, the Company’s securities declined sharply in value, thereby damaging investors.
If you purchased shares of Shiloh during the Class Period you may move the Court no later than November 20, 2015 to request appointment as lead plaintiff. If you purchased Shiloh securities during the Class Period, or if you have information or 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 Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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