BOSTON, June 21, 2019 /PRNewswire/ -- Thornton Law
Firm LLP and F.D. Azar & Associates are investigating a
securities class action lawsuit filed against A.O. Smith
Corporation (NYSE: AOS) on behalf of AOS shareholders. AO Smith
investors who have purchased at least 500 shares of AOS stock
since July 2016 and are interested to
learn more about the case are encouraged to contact the Thornton
Law Firm at shareholder@tenlaw.com, or call 844-241-9475.
Interested shareholders have until July
27, 2019 to apply to be lead plaintiff. The lawsuit alleges
violations of the federal securities laws, and the class has not
yet been certified. Until certification occurs, you are not
represented by an attorney. If you choose to take no action, you
can remain an absent class member.
The lawsuit alleges that A.O. Smith manipulated its sales and
earnings data in the critical Chinese market and masked the
slowdown of its Chinese growth by "channel stuffing" unsold
inventory through a distribution partner. A.O. Smith allegedly also
misrepresented the availability of cash balances totaling
$539 million, instead using these
funds as loans to prop up the scheme. While A.O. Smith allegedly utilized these nefarious
practices to create the illusion of Chinese sales, it touted
"record" earnings across the key Asian market. It is alleged that
as a result of this news becoming public, AOS stock declined over
6%. The lawsuit seeks to recover this loss for shareholders who
purchased during the Class Period.
If you have purchased at least 500 shares of AO Smith stock
(NYSE: AOS), you may have a claim for damages and you may be
eligible to seek a position in the case as a lead plaintiff. Please
contact the Thornton Law Firm's shareholder rights team at
shareholder@tenlaw.com, or call 844-241-9475.
Thornton Law Firm and F.D. Azar & Associate's securities
attorneys are highly experienced in representing individual
shareholders and institutional investors in recovering damages
caused by violations of the securities laws. They have established
track records litigating securities cases in courts throughout the
country and recovering losses on behalf of shareholders. This may
be considered Attorney Advertising in some jurisdictions. Prior
results do not guarantee or predict a similar outcome with respect
to any future matter.
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SOURCE Thornton Law Firm LLP