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Deadline on July 29th coming up in Lawsuit filed for Investors in A. O. Smith Corporation (NYSE: AOS)

07-24-2019 06:23 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A Deadline is coming up on July 29, 2019 in the lawsuit for certain investors in A. O. Smith Corporation (NYSE: AOS).

A Deadline is coming up on July 29, 2019 in the lawsuit for certain investors in A. O. Smith Corporation (NYSE: AOS).

The Shareholders Foundation announces that a deadline is coming up on July 29, 2019 in the lawsuit filed for certain investors of A. O. Smith Corporation (NYSE: AOS) over alleged securities laws violations by A. O. Smith Corporation.

Investors who purchased shares of A. O. Smith Corporation (NYSE: AOS) have certain options and there are strict and short deadlines running. Deadline: July 29, 2019. NYSE: AOS stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint filed in the U.S. District Court for the Eastern District of Wisconsin the plaintiff alleges on behalf of purchasers of A. O. Smith Corporation (NYSE: AOS) common shares between July 26, 2016 and May 16, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between July 26, 2016 and May 16, 2019, the Defendants failed to disclose to investors that the Company had undisclosed business connections and entanglements with UTP through which it funneled up to 75% of its China product sales, that the Company had used UTP to engage in channel stuffing by artificially inflating inventories purportedly sold through distributors that were not based on consumer demand, thereby approximately doubling the normal level of inventory at such distributors, that the Company had used its UTP relationship to artificially inflate the sales figures it reported to investors by as much as 8% and to conceal worsening sales trends that the Company was experiencing in China, that the Company’s sales growth had been primarily in lower margin products as its higher priced products were being undercut by competition in “second-tier” Chinese cities, causing the Company to experience significant market pressures, that the Company had increased its cash reserves in China to over $530 million in furtherance of its channel stuffing and sales manipulation scheme, encumbering the Company’s ability to repatriate the cash for use for capital expenditures, and as a result, the Company’s public statements were materially false and misleading at all relevant times.

Those who purchased shares of A. O. Smith Corporation (NYSE: AOS) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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