The Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Gerdau S.A. Investors & Enc...
May 27 2016 - 2:24PM
Business Wire
Law Offices of Howard G. Smith announces that a class
action lawsuit has been filed on behalf of investors who purchased
Gerdau S.A. (“Gerdau” or the “Company”) (NYSE: GGB) securities
between June 2, 2011 and May 15, 2016, inclusive (the “Class
Period”). Gerdau investors have until July 25,
2016 to file a lead plaintiff motion.
Investors who suffered losses on their Gerdau investments are
encouraged to contact the Law Offices of Howard G. Smith to discuss
their legal rights in this class action at 888-638-4847 or by email
to howardsmith@howardsmithlaw.com.
According to the lawsuit, throughout the Class Period,
Defendants made false and/or misleading statements, as well as
failed to disclose material adverse facts about the Company’s
business, operations, and prospects. Specifically, Defendants made
false and/or misleading statements and/or failed to disclose that:
(i) the Company was engaged in a bribery scheme in collusion with
Brazil’s Board of Tax Appeals (“CARF”); (ii) Gerdau had defrauded
Brazilian tax authorities of roughly $429 million in taxes; (iii)
Gerdau’s Chief Executive Officer (“CEO”), Defendant André Bier
Gerdau Johannpeter (“Johannpeter”) and other directors and
employees of the Company had engaged in bribery, money laundering,
and influence peddling; and (iv) as a result of the foregoing,
Defendants’ statements about Gerdau’s business, operations, and
prospects were false and misleading and/or lacked a reasonable
basis.
If you purchased shares of Gerdau during the Class Period you
may move the Court no later than July 25, 2016 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 howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20160527005760/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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