AURORA, Colo., June 21, 2019 /PRNewswire/ -- F.D. Azar
& Associates and Thornton Law Firm LLP 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 1,000 shares of AOS stock and
are interested to learn more about the case are encouraged to
contact F.D. Azar & Associates, PC. at
securities@fdazar.com or call 1-844-241-9475.
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 AO 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 called Jiangsu UTP Supply
Chain. AO Smith allegedly also misrepresented the availability of
cash balances totaling $539 million,
instead using these funds as loans to prop up the scheme. While AO
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 1,000 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 Azar Law Firm's shareholder rights team at
securities@fdazar.com or call 1-844-241-9475
F.D. Azar & Associate and Thornton Law Firm'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.
Links:
https://www.fdazar.com/
https://www.fdazar.com/practice-area/a-o-smith-corporation-class-action/
https://www.fdazar.com/our-attorneys-bios/class-action-lawyers/
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SOURCE Franklin D. Azar &
Associates, P.C.