Energy News / Shareholders Foundation, Inc.

Shareholder Notice: Deadline Upcoming in $15 Million Settlement in the Gerdau SA (ADR) (NYSE:GGB) Investor Lawsuit

Via: ReleaseWire

Updated 12:15 PM CST, Mon, November 13,2017

A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Gerdau SA (ADR) (NYSE:GGB) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on November 28, 2017 and NYSE: GGB investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 11/13/2017 -- The Shareholders Foundation announces that a deadline is coming up on November 28, 2017 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Gerdau SA (ADR) (NYSE:GGB) between March 10, 2014 and November 11, 2016.

Investors who purchased a significant amount of shares of Gerdau SA (ADR) (NYSEGGB) between March 10, 2014 and November 11, 2016, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call 858-779-1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the Gerdau SA (ADR) (NYSE:GGB) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/gerdau-sa-adr-nyse-ggb-investor-securities-class-action-lawsuit-05262016

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is November 28, 2017. The class action administrator for this case is Gilardi & Co. LLC.

The lawsuit was originally filed in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Gerdau SA in connection with certain allegedly false and misleading statements made between June 2, 2011 and May 15, 2016. According to the complaint the plaintiff alleges on behalf of purchasers of Gerdau SA (ADR) (NYSE:GGB) common shares between June 2, 2011 and May 15, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between June 2, 2011 and May 15, 2016 the defendants issued false and misleading statements to investors and/or failed to disclose that the Company was engaged in a bribery scheme in collusion with Brazil's Board of Tax Appeals ("CARF"), that Gerdau had defrauded Brazilian tax authorities of roughly $429 million in taxes, that Gerdau SA's Chief Executive Officer ("CEO"), defendant André Bier Gerdau Johannpeter and other directors and employees of the Company had engaged in bribery, money laundering, and influence peddling, and that as a result, Gerdau SA's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Gerdau SA (ADR) (NYSE:GGB) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/shareholder-notice-deadline-upcoming-in-15-million-settlement-in-the-gerdau-sa-adr-nyseggb-investor-lawsuit-890953.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com