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Levi & Korsinsky, LLP Reminds Shareholders of Kobe Steel Ltd. of a Class Action and a Lead Plaintiff Deadline of February 26, 2018

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01/14/2018 | 06:01am CEST

The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of Kobe Steel Ltd. ("Kobe Steel") (OTCMKTS: KBSTY) between May 29, 2013 and October 12, 2017. You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Southern District of New York. To get more information go to:

http://www.zlk.com/plsra-c/kobe-steel-ltd?wire=2

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) the Company falsified data on many of its products; (ii) the Company sold products that failed quality control tests in violation of laws and regulations; (iii) the Company’s financial performance relied on selling products that did not meet quality standards in violation of laws and regulations; (iv) the Company would incur significant costs and lose customers if customers became aware of the quality of the products; (v) the Company’s compliance initiatives, corporate governance and risk management activities were ineffective and inadequate at preventing misconduct; and (vi) the Company’s internal reporting systems failed to foster employee participation and adequately address employee concerns, and senior management hyper-emphasized profitability at all costs, promoting a culture of corner-cutting and deterring employees from making claims over product quality.

If you suffered a loss in Kobe Steel you have until February 26, 2018 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.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


© Business Wire 2018
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