According to the law firm press release, Shiloh Industries, Inc. manufactures and distributes lightweighting, noise and vibration solutions to automotive, commercial vehicle and other industrial markets.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company had underreported the cost related to its manufacturing of products; (2) that the Company engaged in irregular accounting practices related to surcharges assessed on steel at the Company’s facility in Wellington, Ohio; (3) that, as a result, the Company’s earnings and income were overstated; (4) that the Company lacked adequate internal controls over financial reporting; and (5) that, as a result of the foregoing, Defendants’ statements about Shiloh’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis. Upon disclosure of these issues, the Company’s securities declined sharply in value, thereby damaging investors.

Plaintiffs filed a corrected amended Complaint on February 23, 2016.

On March 23, 2017, the Court granted Defendants' Motion to Dismiss with prejudice. On July 7, 2017, on an Order for Reconsideration, the Court granted Plaintiff's request to further amend their Complaint. An amended Complaint was filed on August 4. On September 18, Defendants filed a Motion to Dismiss the amended Complaint. On September 19, 2018, the Court issued an Order granting Defendants' Motion to Dismiss, dismissing the case with prejudice.