IMPORTANT Kobe Steel, Ltd. Investor ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors who suffered losses in Kobe Steel, Ltd.

NEW YORK, Dec. 29, 2017 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP   announces that a federal securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of persons and entities that acquired Kobe Steel, Ltd. (OTC:KBSTY) (OTC:KBSTF) and certain of its officers, in the United States District Court for the Southern District of New York on behalf of  all persons who  purchased or  acquired American Depositary Receipts (“ADRs”) of Kobe Steel during the period  May 29,  2013  through October  12, 2017, inclusive (“Class Period”).

Investors who have incurred   losses  in  Kobe Steel, Ltd. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.

If   you have incurred losses in the shares of   Kobe Steel, Ltd. and would like to assist with the litigation process as a lead plaintiff, you may, no later than February 26, 2018, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Kobe Steel, Ltd.

Kobe Steel is one of Japan’s largest steel manufacturers and  a  major  supplier of aluminum and copper products.

During the Class Period, Kobe Steel repeatedly misrepresented  the  quality  of its products and the integrity of its operations by emphasizing that it offers “excellent products and services” with  “special attention to product  safety” as it has “an  organizational culture that is  highly sensitive to  compliance issues.”

Defendants’ statements pertaining to Kobe Steel’s products and performance  of its operations were materially  false and misleading  because the company  had intentionally falsified data on many of  its aluminum, copper, iron and  steel products, and knowingly sold products that failed quality control tests.

During the  week  of October  13,  2017,  Kobe Steel  admitted  to  falsifying inspection certificates on its  core products in its  aluminum and copper  and iron and  steel segments  and not  complying with  customer standards.   As a result,  Kobe  Steel  ADRs cumulatively  declined  $2.37 or  approximately  40% during that week.   

Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

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Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

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