MILWAUKEE, May 6, 2013 (GLOBE NEWSWIRE) -- We are investigating possible securities fraud claims against Ferro Corporation (FOE) resulting from inaccurate statements Ferro made regarding its financial performance, legal compliance and future prospects for the period April 26, 2012 and October 10, 2012.
Click here to learn more about the investigation: http://www.ademilaw.com/case/ferro-corporation or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Our investigation focuses on the extent to which Ferro issued false and misleading statements regarding its operations, business trends and future prospects. Specifically, Ferro failed to disclose that: (i) it was colluding with other automotive supply companies to engage in wrongful trade practices over an extended time; (ii) that Ferro's known, but undisclosed, trade practices subjected Ferro to material undisclosed risks, including monetary and reputational risks, and that damage to its reputation was of particular significance to Ferro since it was dependent on a relatively small number of customers and any harm to its reputation and/or relationships with such customers would adversely affect its future revenues and growth prospects; (iii) Ferro was violating accounting standards associated with the impairment of goodwill, property plant and equipment, and inventory assets; (iv) Ferro's financial statements were not fairly presented in conformity with GAAP and were materially false and misleading; and (v) based on the foregoing, Ferro lacked a reasonable basis for its positive statements about future prospect, in general, and its Electronic Materials business, in particular.
In response to the unexpected negative sales and earnings announcement, the price of Ferro common stock plummeted more than 24%, closing at $2.75 per share on October 10, 2012 on extremely heavy trading volume.
If you wish to obtain additional information or have information about Ferro, please contact Guri Ademi either at firstname.lastname@example.org or toll-free: 866-264-3995, http://www.ademilaw.com/case/ferro-corporation.
We specialize in securities fraud and shareholder litigation. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Ademi & O'Reilly, LLP Guri Ademi 3620 East Layton Ave. Cudahy, WI 53110 Toll Free: (866) 264-3995 Fax: (414) 482-8001 www.ademilaw.comSource:Ademi & O'Reilly, LLP