KOBE STEEL INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Kobe
Steel, Ltd. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Kobe Steel, Ltd. (“Kobe” or the
“Company”) (OTC:KBSTY) (OTC:KBSTF) of the February 26, 2018 deadline to seek the role of lead plaintiff in a federal securities
class action that has been filed against the Company.
If you invested in Kobe American Depositary Receipts (“ADRs”) between May 29, 2013 and October 12, 2017 and would like to
discuss your legal rights, click here : www.faruqilaw.com/KBSTY. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by
sending an e-mail to rgonnello@faruqilaw.com .
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased
Kobe ADRs between May 29, 2013 and October 12, 2017 (the “Class Period”). The case, Aude v. Kobe Steel, Ltd. et al, No.
1:17-cv-10085 was filed on December 26, 2017.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making materially false and/or
misleading statements and/or failing to disclose that: (a) Kobe falsified data on many of its aluminum, copper and steel products
sold to customers; (b) Kobe sold products that failed quality control tests in violation of laws and regulations; (c) Kobe’s
financial performance relied on selling products that did not meet quality standards in violation of laws and regulations; (d) Kobe
would incur significant costs and lose customers if customers became aware of the aforementioned; (e) Kobe’s compliance
initiatives, corporate governance and risk management activities were ineffective and inadequate; (f) Kobe’s internal reporting
systems failed to foster employee participation and adequately address employee concerns; and (g) as a result, Kobe’s statements
about its business, operations and prospects were materially false and/or misleading and/or lacked a reasonable basis.
Specifically, between October 8, 2017 and October 13, 2017, the Company admitted to falsifying inspection certificates on its
core products in its aluminum and copper and iron and steel segments and not complying with customer standards. As a result, the
price of Kobe ADRs significantly declined.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is
adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the
putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and
remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff
or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Kobe’s conduct to contact the firm, including
whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future
matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential
manner.
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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