Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of A. O. Smith Corporation (NYSE: AOS) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of A. O. Smith Corporation (NYSE: AOS) concerning whether a series of statements by A. O. Smith Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On May 16, 2019, a report published by J Capital published alleged that AOS "has handed its China business over to a Chinese company without disclosing this to investors." Furthermore, J Capital alleged that AOS "failed to disclose the sharp decline under way in China, where sales will fall 16-21% this year", "over-reported sales and under-reported inventory since at least 2015", and "has major governance problems both inside and outside China."
Following this news, NYSE: AOS fell $4.34, or 9.02%, to $43.75 on May 16, 2019.
Based in Milwaukee, Wisconsin, and founded in 1874 A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, tanks, and water treatment products in North America, China, Europe, and India.
If you purchased shares of A. O. Smith Corporation (NYSE: AOS) on or before May 16, 2019, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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