San Diego, CA -- (SBWire) -- 07/22/2016 --A deadline is coming up on July 25, 2016 in the lawsuit filed for investors of Gerdau SA (ADR) (NYSE:GGB) concerning alleged securities laws violations by Gerdau SA.
Investors who purchased shares of Gerdau SA (ADR) (NYSE:GGB) have certain options and there are strict and short deadlines running. Deadline: July 25, 2016. NYSE:GGB stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Gerdau SA (ADR) (NYSE:GGB) common shares between June 2, 2011 and May 15, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between June 2, 2011 and May 15, 2016 the defendants issued false and misleading statements to investors and/or failed to disclose that the Company was engaged in a bribery scheme in collusion with Brazil's Board of Tax Appeals ("CARF"), that Gerdau had defrauded Brazilian tax authorities of roughly $429 million in taxes, that Gerdau's Chief Executive Officer ("CEO"), Defendant André Bier Gerdau Johannpeter and other directors and employees of the Company had engaged in bribery, money laundering, and influence peddling, and that as a result, Gerdau's public statements were materially false and misleading at all relevant times.
On May 16, 2016, various news outlets reported that Brazil's federal police accused Gerdau SA of evading $429 million in taxes and indicted certain Gerdau SA executives, including Chief Executive Officer André Gerdau Johannpeter, on corruption-related charges. The charges included bribery, money laundering, and influence peddling. Shares of Gerdau SA (ADR) (NYSE:GGB) declined to as low as $1.59 per share on May 17, 2016.
On July 21, 2016, NYSE:GGB shares closed at $2.06 per share.
Those who purchased shares of Gerdau SA (ADR) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Deadline in Lawsuit on July 25, 2016 for Investors in Gerdau SA (ADR) (NYSE:GGB)
A Deadline is coming up on July 25, 2016 in the lawsuit for investors in Gerdau SA (ADR) (NYSE:GGB) and NYSE:GGB stockholders should contact the Shareholders Foundation.