NEW YORK, Jan. 31, 2018 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Kobe Steel Ltd.
("Kobe Steel") (OTCMKTS:KBSTY) between May 29, 2013 and October 12, 2017. You are
hereby notified that a securities class action lawsuit has been commenced in the USDC for the Southern District of New
York. To get more information go to:
http://www.zlk.com/plsra-c/kobe-steel-ltd?wire=3
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost
or obligation to you.
The complaint alleges that throughout the class period Defendants issued materially false and/or misleading
statements and/or failed to disclose that: (i) the Company falsified data on many of its products; (ii) the Company sold products
that failed quality control tests in violation of laws and regulations; (iii) the Company’s financial performance relied on selling
products that did not meet quality standards in violation of laws and regulations; (iv) the Company would incur significant costs
and lose customers if customers became aware of the quality of the products; (v) the Company’s compliance initiatives, corporate
governance and risk management activities were ineffective and inadequate at preventing misconduct; and (vi) the Company’s internal
reporting systems failed to foster employee participation and adequately address employee concerns, and senior management
hyper-emphasized profitability at all costs, promoting a culture of corner-cutting and deterring employees from making claims over
product quality.
If you suffered a loss in Kobe Steel you have until February 26, 2018
to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a
lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The
firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered
hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar
outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
