The Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Shiloh Industries, Inc. Investors
By Business Wire News
Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Shiloh Industries, Inc. (“Shiloh” or the “Company”) (Nasdaq: SHLO) securities on the open market 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. Investors who suffered losses of over $100,000 on their investment in Shiloh securities are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action.
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) 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 ask the Court to appoint you 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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