SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of CaesarStone Sdot-Yam Ltd.
NEW YORK, Aug. 20, 2015 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of CaesarStone Sdot-Yam Ltd.("CaesarStone" or the "Company") (NasdaqGS: CSTE -News). Such investors are advised to contact Peretz Bronstein or his investor relations coordinator Eitan Kimelman at [email protected] or 212-697-6484.
The investigation concerns whether CaeserStone and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On August 19, 2015, Spruce Point Capital Management published a report on CaesarStone alleging that: (1) a Freedom of Information Act request to the SEC showed that the cost of quartz increased substantially in 2014, yet CaesarStone stated in its SEC filings that the impact was just 4%; (2) independent lab tests show CaesarStone's samples may contain less quartz than advertised; (3) CaesarStone's reported consolidated margins may be overstated; and (4) proprietary U.S. import shipping data collected from port documents indicates that CaesarStone's North American market share may not be growing as claimed. When the truth was revealed, shares dropped causing investors harm.
Following this news, shares of CaeserStone fell $3.43 or 7.14% to close at $44.61 on August19, 2015.
If you are aware of any facts relating to this investigation, or purchased shares of CaeserStone, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
[email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article