A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Caesarstone Sdot-Yam Ltd (NASDAQ: CSTE) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on September 15, 2017 and NASDAQ: CSTE investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/16/2017 -- The Shareholders Foundation announces that a deadline is coming up on September 15, 2017 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Caesarstone Sdot-Yam Ltd (NASDAQ: CSTE) between February 12, 2014 and August 18, 2015.
Investors who purchased a significant amount of shares of Caesarstone Sdot-Yam Ltd (NASDAQ: CSTE) between February 12, 2014 and August 18, 2015, have certain options and should contact the Shareholders Foundation by email at email@example.com or call +1(858) 779 - 1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Caesarstone Sdot-Yam Ltd (NASDAQ: CSTE) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/caesarstone-sdot-yam-ltd-nasdaq-cste-investor-securities-class-action-lawsuit-08252015
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is September 15, 2017. The class action administrator for this case is Strategic Claims Services.
The lawsuit was originally filed in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Caesarstone Sdot-Yam Ltd in connection with certain allegedly false and misleading statements made between March 25, 2013 and August 18, 2015.
According to the complaint the plaintiff alleges on behalf of purchasers of Caesarstone Sdot-Yam Ltd (NASDAQ:CSTE) common shares between March 25, 2013 and August 18, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 25, 2013 and August 18, 2015 Defendants made false and/or misleading statements and/or failed to disclose that the cost of quartz rose substantially by approximately 20% in 2014 while Caesarstone Sdot-Yam Ltd claimed in SEC filings the impact of the price increase was just 4%, that independent lab tests demonstrate that Caesarstone Sdot-Yam Ltd's samples contained less quartz than advertised, that Caesarstone Sdot-Yam Ltd's reported consolidated margins, gross margins, and EBITDA were overstated, that the extent of and risk posed by a growing number of lawsuits for approximately 60 silicosis-related injuries or deaths suffered by workers and fabricators of its product in Israel was understated, that the impact recent OSHA warnings regarding silicosis would have on the opening of a new U.S. facility and associated costs, that recent inspection reports revealed audit deficiencies related to revenue and inventory controls, and that as a result of the foregoing, Defendants' statements about Caesarstone Sdot-Yam Ltd's business, operations, and prospects were allegedly false and misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased shares of Caesarstone Sdot-Yam Ltd (NASDAQ: CSTE) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego