Girard Gibbs LLP is investigating potential claims on behalf of
investors of Kobe Steel, Ltd. (Other OTC: KBSTY) involving possible
securities law violations.
To speak privately with an attorney regarding this class action
lawsuit investigation, click
here.
On October 8, 2017, Kobe Steel issued a press release titled “Improper
conduct concerning a portion of the aluminum and copper products
manufactured by Kobe Steel,” announcing that employees at four of its
factories had altered inspection certificates on aluminum and copper
products between September 2016 and August of this year, making it
appear as though the products met manufacturing specifications required
by customers, such as tensile strength, when the products did not.
According to the company, “[t]his incident of improper conduct came to
light following self-inspections and emergency quality audits of the
compliance status of contracts executed as to products shipped over the
past year.” It also reported that causing the serious matter “has
brought overwhelming shame to the Company.”
On this news, Kobe Steel’s stock dropped nearly 8% on October 9, 2017,
and plunged nearly another 25% on October 10, causing investors hundreds
of millions in losses.
If you purchased or acquired shares of Kobe Steel and would like to
speak privately with a securities attorney to learn more about the
investigation and your legal rights, visit our website
or contact the securities team directly at (800) 254-9493.
Girard Gibbs LLP is one of the nation’s leading firms representing
individual and institutional investors in securities
litigation to correct abusive corporate governance practices,
breaches of fiduciary duty, and proxy violations. The firm has recovered
over a billion dollars for its clients against some of the world’s
largest corporations, and has earned Tier-1 rankings and been named in
the U.S.
Lawyers – Best Law Firms list for five consecutive years.
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