NEW YORK, Jan. 10, 2019 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP announces that class action lawsuits have
commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead
plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the links
provided. There is no cost or obligation to you.
Welbilt, Inc. (NYSE: WBT)
Class Period: February 24, 2017 - November 2, 2018
Lead Plaintiff Deadline: February 11, 2019
Join the action: https://www.zlk.com/pslra-1/welbilt-inc-loss-form?wire=3
The lawsuit alleges: Welbilt, Inc. made materially false and/or misleading statements throughout the class period and/or failed
to disclose that: (i) the Company lacked effective internal control over financial reporting; (ii) the Company was incorrectly
recording the tax basis of foreign subsidiaries and the amortization of their intangible assets; and (iii) as a result of the
foregoing, Defendants’ statements about Welbilt’s business, operations, and prospects, were false and misleading and/or lacked a
reasonable basis.
On November 5, 2018, Welbilt filed a Form 8-K for its Q3 2018, stating that “During the third quarter of 2018, the Company
identified errors in the tax basis of a foreign subsidiary and incorrect amortization of the intangible assets held by the same
entity… In addition, the Company discovered certain intercompany transactions were not recorded on a timely basis.” As a result of
these errors, Welbilt announced that “the consolidated financial statements of the Company as of and for the year ended December
31, 2016 will be restated, and as of and for the years ended December 31, 2015 and 2017 are expected to be revised.”
To learn more about the Welbilt, Inc. class action contact jlevi@levikorsinsky.com.
Tenaris S.A. (NYSE: TS)
Class Period: May 1, 2014 - November 27, 2018
Lead Plaintiff Deadline: February 11, 2019
Join the action: https://www.zlk.com/pslra-1/tenaris-s-a-loss-form?wire=3
The lawsuit alleges: Tenaris S.A. made materially false and/or misleading statements and/or failed to disclose that: (1)
Tenaris’s CEO and Chairman, Paolo Rocca, knew that one of his company’s executives paid cash to government officials from 2009 to
2012 to expedite compensation payments for the sale of Sidor; (2) this conduct would lead to Rocca being charged in a graft scheme,
and subject Tenaris, its affiliates, and/or executives to heightened governmental scrutiny; and (3) as a result, Tenaris’s public
statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit
claims that investors suffered damages.
To learn more about the Tenaris S.A. class action contact jlevi@levikorsinsky.com.
You have until the lead plaintiff deadlines to request 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.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
