SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

June 06, 2016 15:18 ET

INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Gerdau S.A. of a Class Action Lawsuit and a Lead Plaintiff Deadline of July 25, 2016 -- GGB

NEW YORK, NY--(Marketwired - June 06, 2016) - The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired American Depositary Receipts of Gerdau S.A. ("Gerdau" or the "Company") (NYSE: GGB) between June 2, 2011 and May 15, 2016.

You are hereby notified that a securities class action has commenced in the USDC for the Southern District of New York. If you purchased or otherwise acquired Gerdau securities between June 2, 2011 and May 15, 2016, your rights may be affected by this action. To get more information go to: http://www.zlk.com/pslra/gerdau-s-a.

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. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/pslra/gerdau-s-a.

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

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph E. Levi, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com