WASHINGTON, DC – U.S. Market Advisors Law Group PLLC (USMA Law Group) announces that it is investigating claims on behalf of investors of Kobe Steel, Ltd. (OTC: KBSTY). Kobe Steel investors are encouraged to obtain additional information by contacting the firm.
Kobe Steel is a Japanese manufacturer with global operations. USMA’s investigation concerns whether Kobe Steel and certain of its executives have violated federal securities laws. A potential class action lawsuit resulting from the investigation would seek monetary recoveries for shareholders damaged by any alleged conduct.
On October 8, 2017, Kobe Steel acknowledged falsifying data about the quality of its aluminum, copper and steel it sold to customers. The company disclosed that, “in its Aluminum & Copper Business, including group companies, a portion of the products traded with customers did not comply with the product specifications which were agreed between the Company and its customers. Data in inspection certificates had been improperly rewritten etc., and the products were shipped as having met the specifications concerned.” Accordingly, hundreds of companies across the world appear to have purchased substandard materials used in the manufacturing of cars, airplanes and numerous other products.
As a result of this news, the price of Kobe Steel shares declined by approximately 40% throughout the next two trading days.
If you purchased over-the-counter shares of Kobe Steel in the United States or are aware of any facts relating to this matter, you can assist this investigation by contacting attorney David P. Abel of USMA Law Group: 202-274-0237, [email protected]
Tentative Investigation Parameters
Company: Kobe Steel Ltd.
Ticker: OTC: KBSTY
Investment Period: October 12, 2012 – October 8, 2017
About USMA Law Group
USMA Law Group is a national law firm based in the District of Columbia. The firm represents investors in antitrust, securities and shareholder litigation. To learn more, visit usmarketlaw.com.
U.S. Market Advisors Law Group PLLC
David P. Abel | Licensed in DC, SC
202-274-0237| [email protected]
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