BOSTON, Dec. 27, 2017 /PRNewswire/ -- Block & Leviton
LLP (www.blockesq.com), a securities litigation firm
representing investors nationwide, announces that a class action has been filed against Kobe
Steel, Ltd. ("Kobe" or the "Company") (OTC: KBSTY) and certain of its officers and directors, alleging violations of the
federal securities laws.
In October of 2017, Kobe issued several statements admitting that it had "improperly rewritten" the data inspection
certificates for thousands of tons of its copper and aluminum shipped to its customers, which include Toyota Motor Corp. and
Honda Motor Co., among others. On this news, the Company's stock plunged, causing hundreds of millions in losses to
investors.
The complaint, filed in the United States District Court for the Southern District of
New York (Aude v. Kobe Steel, Ltd, et al., 17-cv-10085),
alleges that between May 29, 2013 and October 12, 2017, inclusive
(the "Class Period"), the defendants repeatedly misrepresented the quality of the Company's products, knowing that Kobe had
falsified data on many of its copper, aluminum, iron, and steel products, misrepresenting that such products had passed quality
control tests.
If you purchased Kobe American Depository Receipts during the Class Period and wish to serve as a lead plaintiff, you must
move the Court no later than February 26, 2018. As a member of the class, you may seek to
file a motion to serve as a lead plaintiff or take no action and remain an absent class member. If you wish to become involved in
the litigation or have questions about your legal rights, you are encouraged to contact attorney Bradley
Vettraino at (617) 398-5600, by email at bradley@blockesq.com , or by visiting www.blockesq.com/kobe .
Confidentiality to whistleblowers or others with information relevant to this investigation is assured.
Block & Leviton LLP is a Boston-based law firm representing investors nationwide. The
firm's lawyers have collectively been prosecuting securities cases on behalf of individual and institutional investors for over
50 years, and have recovered billions of dollars on their behalf. Block & Leviton's investigations into corporate wrongdoing
were recently covered by the New York Times.
The court in which the case is pending is located at 500 Pearl Street, New York, NY
10007.
This notice may constitute attorney advertising.
CONTACT:
Block & Leviton LLP
Bradley J. Vettraino
155 Federal Street, Suite 400
Boston, MA 02110
(617) 398-5600
bradley@blockesq.com
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SOURCE Block & Leviton LLP