San Diego, CA -- (SBWIRE) -- 10/21/2015 -- A shareholder in NASDAQ:SHLO shares filed a lawsuit against Shiloh Industries, Inc in the U.S. District Court for the Southern District of New York over alleged Securities Laws violations.

Shares of Shiloh Industries, Inc. (NASDAQ:SHLO) declined to as low as $6.59 per share on October 20, 2015.

The plaintiff seeks to recover damages on behalf of certain investors in NASDAQ:SHLO shares.

Investors who purchased shares of Shiloh Industries, Inc. (NASDAQ:SHLO) have certain options and for certain shareholders are short and strict deadlines running. Deadline: November 20, 2015. NASDAQ:SHLO shareholders should contact the Shareholders Foundation at mail@shareholdersfoundation or call 858-779-1554.

The plaintiff alleges on behalf of purchasers of Shiloh Industries, Inc. (NASDAQ:SHLO) common shares between March 9, 2015 and September 14, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 9, 2015 and September 14, 2015, Defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that Shiloh Industries, Inc had under reported the cost related to its manufacturing of products, that Shiloh Industries, Inc engaged in irregular accounting practices related to surcharges assessed on steel at the Company's facility in Wellington, Ohio, that, as a result, the Company's earnings and income were overstated, that Shiloh Industries, Inc lacked adequate internal controls over financial reporting, and that, as a result of the foregoing, Defendants' statements about Shiloh's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On September 9, 2015, Shiloh Industries, Inc. announced that it would be unable to timely file its quarterly report for the period ended July 31, 2015, "because of an ongoing internal investigation into the accounting for certain costs at the Company's facility in Wellington, Ohio." Shiloh Industries, Inc. has further disclosed an audit committee investigation "to assess the nature and extent of any misstatements, and their potential effect on previously issued financial statements and management's internal control over financial reporting."

Those who purchased shares of Shiloh Industries, Inc. 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