Cases
Kobe Steel, Ltd. (OTC: KBSTY)
Securities Class Action
Overview
Overview
- Date:
- 10/11/2017
- Company Name:
- Kobe Steel, Ltd.
- Stock Symbol:
- KBSTY
- Status:
- Closed/Complete
NEW YORK, October 11, 2017 – Bragar Eagel & Squire, P.C. is investigating potential claims against Kobe Steel, Ltd. (NASDAQ: KBSTY). Our investigation concerns whether Kobe Steel has violated the federal securities laws and/or engaged in other unlawful business practices.
On October 8, 2017, Kobe Steel announced that a portion of the products traded with customers did not comply with the product specifications, which were agreed between the Company and its customers. According to the Company, this information had come to light following emergency quality audits of the compliance status of contracts executed as to products shipped over the past year.
Following this news, American Depositary Receipts (“ADRs”) of Kobe Steel fell $1.92 per share over two trading days, or over 32%, to close at $4.00 per share on October 10, 2017.
If you purchased or otherwise acquired Kobe Steel ADRs and suffered a loss, have information, 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 Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On October 8, 2017, Kobe Steel announced that a portion of the products traded with customers did not comply with the product specifications, which were agreed between the Company and its customers. According to the Company, this information had come to light following emergency quality audits of the compliance status of contracts executed as to products shipped over the past year.
Following this news, American Depositary Receipts (“ADRs”) of Kobe Steel fell $1.92 per share over two trading days, or over 32%, to close at $4.00 per share on October 10, 2017.
If you purchased or otherwise acquired Kobe Steel ADRs and suffered a loss, have information, 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 Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.