Kobe Steel Investor Alert: Hagens Berman Alerts Kobe Steel Ltd. Investors to Investigation of Potential Securities Law Violations

SAN FRANCISCO, Oct. 10, 2017 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP alerts investors that it is investigating Kobe Steel Ltd. (OTHER OTC: KBSTY) for possible securities law violations.  If you purchased or otherwise acquired securities of Kobe Steel before October 10, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP.  For more information visit:

https://www.hbsslaw.com/cases/KBSTY

or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing

[email protected].

On October 10, 2017, TheStreet reported in an article entitled "Kobe Steel Shares Are Getting Torn to Shreds After New Scandal Emerges" that the group revealed it falsified data on the strength and durability of copper and aluminum shipments to customers for as much as a decade.

According to TheStreet  Kobe explained "[a] portion of the products traded with customers did not comply with the product specifications which were agreed between the Company and its customers" and "[d]ata in inspection certificates had been improperly rewritten etc., and the products were shipped as having met the specifications concerned."  Kobe reportedly stated the falsifications may have occurred over a period of ten years.

This news drove the price of Kobe securities down $1.30 to close at $4.00 on October 10, 2017 — a loss of over 24%.

"We're focused on the matters leading up to Kobe's emergency quality audit findings triggering the Company's belated disclosures and the damages inflicted on Kobe investors," said Hagens Berman partner Reed Kathrein.

Whistleblowers:  Persons with non-public information regarding Kobe Steel should consider their options to help in the investigation or take advantage of the SEC Whistleblower Program.  Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.  For more information, call Reed Kathrein at 510-725-3000 or email [email protected].

About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 11 offices across the country.  The firm represents investors, whistleblowers, workers and consumers in complex litigation.  More about the firm and its successes can be found at www.hbsslaw.com.  For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:
Reed Kathrein, 510-725-3000

SOURCE Hagens Berman Sobol Shapiro LLP

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