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Case Status:    ONGOING    
On or around 10/31/2016 (Ongoing date of last review)

Filing Date: May 26, 2016

According to the law firm press release, Gerdau produces and commercializes steel products worldwide. The Company operates through Brazil Business Operation, North America Business Operation, South America Business Operation, and Special Steel Business Operation segments.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company was engaged in a bribery scheme in collusion with Brazil’s Board of Tax Appeals (“CARF”); (ii) Gerdau had defrauded Brazilian tax authorities of roughly $429 million in taxes; (iii) Gerdau’s Chief Executive Officer (“CEO”) and other directors and employees of the Company had engaged in bribery, money laundering, and influence peddling; and (iv) as a result of the foregoing, Defendants’ statements about Gerdau’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

A consolidated complaint was filed on October 31, 2016.

COMPANY INFORMATION:

Sector: Basic Materials
Industry: Iron & Steel
Headquarters: Brazil

SECURITIES INFORMATION:

Ticker Symbol: GGB
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 16-CV-03925
JUDGE: Hon. Louis L. Stanton
DATE FILED: 05/26/2016
CLASS PERIOD START: 06/02/2011
CLASS PERIOD END: 05/15/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 16-CV-03925
JUDGE: Hon. Louis L. Stanton
DATE FILED: 10/31/2016
CLASS PERIOD START: 04/23/2012
CLASS PERIOD END: 05/16/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Robbins Geller Rudman & Dowd LLP (San Diego)
    655 West Broadway, Suite 1900, Robbins Geller Rudman & Dowd LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 ·
No Document Title Filing Date