GPM Files Securities Class Action Lawsuit Against Shiloh Industries, Inc.
September 21, 2015 | By Business Wire News
Glancy Prongay & Murray LLP(“GPM”)announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of a class (the “Class”) of purchasers of the securities of Shiloh Industries, Inc. (“Shiloh” or the “Company”) (Nasdaq: SHLO) on the open market between March 9, 2015 and September 14, 2015, inclusive (the “Class Period”). Shareholders have 60 days from the date of this notice to file a motion to be appointed as lead plaintiff in the shareholder lawsuit.
Please contact Lesley F. Portnoy at 888-773-9224 or 310-201-9150, or at firstname.lastname@example.org to discuss this matter. If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
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 are a member of the Class described above, you may move the Court no later than 60 days from the date of this notice to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley F. Portnoy, Esquire, of Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to email@example.com, 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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