Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC Reminds Investors of Class Action against CaesarStone Sdot-Yam Ltd. and Lead Plaintiff Deadline October 26, 2015

NEW YORK, Oct. 21, 2015 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a securities class action has been filed in the United States District Court for the Southern District of New York on behalf of those who purchased shares of CaesarStone Sdot-Yam Ltd.("CaesarStone" or the "Company") (NasdaqGS: CSTE), during the period between March 25, 2015 and August 18, 2015 inclusive. (the "Class Period").

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) that the cost of quartz rose substantially by approximately 20% in 2014 while the Company claimed in SEC filings the impact of the price increase was just 4%; (ii) independent lab tests demonstrate that CaesarStone's samples contained less quartz than advertised; (iii) CaesarStone's reported consolidated margins, gross margins, and EBITDA were overstated; (iv) the extent of and risk posed by a growing number of lawsuits for approximately 60 silicosis-related injuries or deaths suffered by workers and fabricators of its product in Israel was understated; vi) the impact recent OSHA warnings regarding silicosis would have on the opening of a new U.S. facility and associated costs;  (vii) recent inspection reports revealed audit deficiencies related to revenue and inventory controls; and (viii) as a result of the foregoing, Defendants' statements about CaesarStone's business, operations, and prospects were false and misleading and/or lacked a reasonable basis at all relevant times.

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 CaesarStone fell $3.43 or 7.14% to close at $44.61 on August19, 2015.

No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. 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 and telephone number.  If you suffered a loss in CaesarStone you have until October 26, 2015 to request that the Court appoint you as lead plaintiff.  Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

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

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