On or around 08/03/2020 (Other)
Filing Date: May 28, 2019
According to the Complaint, A.O. Smith is a Milwaukee-based manufacturer of gas and electric water heaters, boilers, tanks and water treatment products.
The Complaint alleges that during the Class Period, the Defendants failed to disclose that the Company had used a distribution partner, Jiangsu UTP Supply Chain, to artificially inflate the Company’s sales and gross margins in the important Chinese market, and that as a result of this adverse information being withheld from the market, the price of the Company’s stock was artificially inflated during the Class Period.
This case was voluntarily dismissed on August 2, 2019. A related case continues under Docket 19-CV-01198.
On September 16, 2019, the Court issued an Order Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated Complaint on November 22. Defendants filed a Motion to Dismiss the consolidated Complaint on January 24, 2020. On June 24, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint. On August 3, Judgment was entered in favor of the Defendants.
Company & Securities Information
Defendant: AO Smith Corporation
Sector: Consumer Cyclical
Industry: Appliance & Tool
Headquarters: United States
Ticker Symbol: AOS
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.
First Identified Complaint
Henry Bleier, et al. v. AO Smith Corporation, et al.