AO Smith Shareholder Alert: Class Action Lawsuit Filed Against A.O. Smith Corporation (AOS)

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 [email protected] 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 [email protected] 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/

SOURCE Franklin D. Azar & Associates, P.C.

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