SCHMITT INDUSTRIES, INC. CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the District of Oregon

LEAD PLAINTIFF DEADLINE IS DECEMBER 12, 2022

NEW YORK, Nov. 17, 2022 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP  announces that  a federal securities class action lawsuit has been filed in the United States District Court for the District of  Oregon on behalf of investors who purchased or otherwise acquired Schmitt Industries, Inc. ("Schmitt" or the "Company") (NASDAQ: SMIT) securities between September 1, 2020 and September 20, 2022, inclusive (the "Class Period").

All investors who purchased the shares and incurred losses are  advised  to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.

If you have incurred losses you may, no later than December 12, 2022, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.

PLEASE CLICK HERE TO JOIN THE CASE

On September 20, 2022, after the market closed, Schmitt announced that its previous financial statements "should no longer be relied upon" and would  require restatement, estimating that "the errors were material on a cumulative basis resulting in a net $330,203 under-recognition of expenses over the first three quarters of the fiscal year."

 On this news, Schmitt's stock fell $0.68, or 17.9%, to close at $3.12 per share on September 21, 2022

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at [email protected]

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. 

SOURCE Wolf Haldenstein Adler Freeman & Herz LLP