Levi & Korsinsky announces the commencement of a class action lawsuit in the USDC for the Southern District of New York on behalf of shareholders of Gerdau S.A. (NYSE: GGB) who purchased American Depositary Receipts between June 2, 2011 and May 15, 2016.
The complaint alleges that, throughout the Class Period, defendants issued false and misleading statements to investors and/or failed to disclose that (1) the Company was engaged in a bribery scheme in collusion with Brazil’s Board of Tax Appeals; (2) Gerdau had defrauded Brazilian tax authorities of roughly $429 million in taxes; (3) Gerdau’s Chief Executive Officer, Defendant André Bier Gerdau Johannpeter, and other directors and employees of the Company had engaged in bribery, money laundering, and influence peddling; and (4) as a result, Gerdau’s public statements were materially false and misleading at all relevant times.
If you suffered a loss in Gerdau you have until July 25, 2016 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.
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