NEW YORK, Jan. 17, 2018 /PRNewswire-USNewswire/ -- Wolf Popper LLP filed the initial and only class action complaint on behalf of investors in Kobe Steel, Ltd.'s ADRs (OTC: KBSTY; KBSTF) during the period May 29, 2013 through October 12, 2017. Although other firms issued press releases concerning the class action, none of those firms conducted the research or analysis necessary to file a complaint.
If you are a member of the Class, you may file a motion to be appointed lead plaintiff no later than February 26, 2018. A lead plaintiff is a representative party responsible for directing the litigation. Investors who purchased Kobe Steel ADRs during the Class Period and suffered losses are urged to contact Wolf Popper to discuss their rights.
During the Class Period, Kobe Steel repeatedly misrepresented the quality of its products and the integrity of its operations by emphasizing that it offered "excellent products and services" with "special attention to product safety" and had "an organizational culture that is highly sensitive to compliance issues."
Through a series of disclosures, Kobe Steel admitted to falsifying inspection certificates on its core products in its aluminum and copper and iron and steel segments and failing to comply with customer standards. As a result, Kobe Steel ADRs declined an aggregate of $2.37 or approximately 40% during the week of October 13, 2017.
Wolf Popper has successfully recovered billions of dollars for defrauded investors. The firm's reputation and expertise have been repeatedly recognized by the courts. See www.wolfpopper.com.
Attorney Advertising: Prior Results Do Not Guarantee A Similar Outcome.
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SOURCE Wolf Popper LLP