An investigation for investors in NYSE:GGB shares over potential securities laws violations by Gerdau SA was announced and NYSE:GGB stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/23/2016 -- An investigation on behalf of investors of Gerdau SA (ADR) (NYSE:GGB) shares over potential securities laws violations by Gerdau SA in connection certain financial statements was announced.
Investors who purchased shares of Gerdau SA (ADR) (NYSE:GGB), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Gerdau SA (ADR) (NYSE:GGB) concerning whether a series of statements by Gerdau regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
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 May 19, 2016, NYSE:GGB shares closed at $1.57 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