Case Background:
On May 28, 2019, the initial complaint in this securities class action was filed against A.O. Smith Corporation ("A.O. Smith" or the "Company"), and certain of A.O. Smith’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act.
The complaint alleges that during the class period, Defendants failed to disclose that the Company had used a distribution partner, Jiangsu UTP Supply Chain, to artificially inflate the Company’s sales and gross margins in the important Chinese market, and that as a result of this adverse information being withheld from the market, the price of the Company’s stock was artificially inflated during the class period.
This is a securities class action on behalf of all persons or entities that purchased or otherwise acquired A. O. Smith Corporation common stock between July 26, 2016 and May 16, 2019, both dates inclusive.
Current Status of Case:
On June 24, 2020, the Court granted Defendants’ Motion to Dismiss the complaint. Judgment was entered on August 3, 2020, terminating the case. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.