LOS ANGELES, Oct. 25, 2022 (GLOBE NEWSWIRE) — The law firm of Portnoy advises Schmitt Industries, Inc. (“Schmitt” or the “Company”) SMIT Investors that a class action lawsuit has been filed on behalf of investors. Schmitt investors who have lost money investing are encouraged to do so Contact Lesley Portnoy, Esq.
Investors are encouraged to contact an attorney Lesley F Portnoyby phone 844-767-8529 or E-mail: lesley@portnoylaw.comto discuss your legal rights, or click here to join the case about www.portnoylaw.com. Portnoy Law Firm can provide a free case assessment and discuss investors’ options for making claims to recover their losses.
The Complaint alleges that during the Class Period, the Defendants made false and/or misleading statements and/or failed to disclose the following: (1) Schmitt Industries consistently downplayed its serious internal control problems; (2) The financial statements of Schmitt Industries from August 31, 2021 to date contained “certain errors”; (3) as a result, Schmitt Industries would have to restate its previously filed financial statements for certain periods; and (4) as a result, the statements made by the defendants regarding their business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. As the true details emerged, the lawsuit alleges that investors suffered damage.
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Portnoy Law Firm represents investors in asserting claims against companies caused by wrongdoing. The firm’s founding partner has recovered over $5.5 billion for aggrieved investors. attorney advertising. Previous results do not guarantee similar results.
Lesley F. Portnoy, Esq.
Bar Association in CA and NY
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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