New York, New York--(Newsfile Corp. - December 9, 2022) - Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Schmitt Industries, Inc. ("Schmitt" or the "Company") (NASDAQ: SMIT) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired Schmitt securities between September 1, 2020 and September 20, 2022, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/smit.
This class action seeks to recover damages against Defendants for alleged violations of the Securities Exchange Act of 1934 (the "Exchange Act").
The Complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Schmitt Industries continuously downplayed its serious issues with internal controls; (2) Schmitt Industries' financial statements from August 31, 2021 to the present included "certain errors"; (3) as a result, Schmitt Industries would need to restate its previously filed financial statements for certain periods; and (4) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/smit or contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Schmitt you have until December 12, 2022 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.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | info@bgandg.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/141672
