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SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Shiloh Industries Inc. to Contact Brower Piven Before the Lead Plaintiff Deadline in Class Action Lawsuit – SHLO

STEVENSON, Md., Sept. 29, 2015 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Shiloh Industries Inc. (Nasdaq:SHLO) (“Shiloh” or the “Company”) securities during the period between March 9, 2015 and September 14, 2015, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until November 20, 2015 to seek appointment as lead plaintiff.

If you have suffered a loss from investment in Shiloh securities purchased on or after March 9, 2015 and held through the revelation of negative information during and/or at the end of the Class Period, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.

If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company securities during the Class Period. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that Shiloh had underreported the cost related to its manufacturing of products and engaged in irregular accounting practices related to surcharges assessed on steel at its facility in Wellington, Ohio such that its earnings and income were overstated.

According to the complaint, following the Company’s September 9, 2015 disclosure that the Company would be unable to file its quarterly report for the period ending July 31, 2015 because of an ongoing investigation into its accounting for certain costs at its facility in Wellington, Ohio, and following the Company’s September 14, 2015 disclosure that the Company would need to restate its income for the quarters ending January 31, 2015 and April 30, 2015 by over $2 million, the value of Shiloh shares declined significantly.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

CONTACT: Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616 hoffman@browerpiven.com

Source: Brower Piven, A Professional Corporation