NEW YORK, Oct. 12, 2015 (GLOBE NEWSWIRE) -- The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Southern District of New York on behalf of investors who purchased CaesarStone Sdot-Yam Ltd. (NASDAQ:CSTE) securities between March 25, 2013 and August 18, 2015.
Click here to learn about the case: http://docs.wongesq.com/CSTE-Info-Request-Form-913. There is no cost or obligation to you.
The complaint alleges that the Company failed to disclose that: (1) the cost of quartz increased significantly by approximately 20% in 2014 while CaesarStone claimed in SEC filings the impact of the price rising was just 4%; (2) independent lab tests revealed that CaesarStone's samples contained less quartz than advertised; (3) CaesarStone’s reported consolidated margins, gross margins, and EBITDA were overstated; (4) the extent of--and risk posed by--a rising number of lawsuits for approximately 60 silicosis-related injuries or deaths suffered by workers and fabricators of its product in Israel was understated; (5) the impact recent OSHA warnings concerning silicosis would have on the opening of a new U.S. facility and associated costs; and (6) recent inspection reports revealed audit deficiencies related to revenue and inventory controls.
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. To obtain additional information, contact Vincent Wong, Esq. either via email email@example.com, by telephone at 212.425.1140, or visit http://docs.wongesq.com/CSTE-Info-Request-Form-913.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Vincent Wong, Esq. 39 East Broadway Suite 304 New York, NY 10002 Tel. 212.425.1140 Fax. 866.699.3880 E-Mail: firstname.lastname@example.org
Source:The Law Offices of Vincent Wong