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Investigation announced for Long-Term NYSE:AOS Investors over potential Wrongdoing at A. O. Smith Corporation

02-27-2020 04:08 PM CET | Politics, Law & Society

Press release from: Shareholders Foundation

An investigation on behalf of current long term investors in A. O. Smith Corporation (NYSE: AOS) shares.

An investigation on behalf of current long term investors in A. O. Smith Corporation (NYSE: AOS) shares.

An investigation on behalf of current long-term investors in shares of A. O. Smith Corporation (NYSE: AOS) concerning potential breaches of fiduciary duties by certain directors and officers of A. O. Smith Corporation was announced.

Investors who are current long term investors in A. O. Smith Corporation (NYSE: AOS) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NYSE: AOS stocks follows a lawsuit filed against A. O. Smith Corporation over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: AOS stocks, concerns whether certain A. O. Smith Corporation directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Eastern District of Wisconsin the plaintiff alleges that 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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