SCHMITT DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors ...

Your unfiltered news center. ®

The world you see depends upon the news you get. ®

HOME

ARTS

RSS

Today's Date: May 1, 2024

Farmers Edge and Saskatchewan Municipal Hail Insurance Partner to Enhance Hail Business Intelligence with InsurTech Tools • University of Massachusetts Dartmouth, a National Research University, Selects YuJa Panorama Digital Accessibility Platform to R • National Association of Black County Officials President, Miami-Dade Commissioner Kionne McGhee, Extends Warm Welcome to Fulton • VerticalScope Partners with The Trade Desk to Integrate OpenPass and OpenPath • New Memorandum of Understanding Leads to More Support for Communities to Manage Their Own Lands • BarkleyOKRP Acquires Performance Media and Marketing Technology Company Adlucent • NASA Postdoctoral Program seeks early career and senior scientists for prestigious fellowships at its locations across the U.S. • UGI Reports Fiscal 2024 Second Quarter Results, Concludes Strategic Review and Affirms Fiscal 2024 Guidance • The New Terminal One at JFK Celebrates Historic MWBE Participation During National Small Business Week • In Honor of Military Appreciation Month: A Veteran's Journey of Purpose and Leadership - Transitioning from Military Service to • Fisk University Announces Deborah Roberts and Al Roker as Co-Speakers for Historic 150th Commencement Ceremony • Mrs. Laura Diez Barroso and Mr. Carlos Laviada Receive the Prestigious Jeffrey Davidow Good Neighbor Award • Emergency Departments Frequently Miss Signs of Epilepsy in Children • Behind the Curtain of the Grad Crisis-Line: 877-GRAD-HLP • CJF Black Journalism Fellows Announced • CF Industries Holdings, Inc. Reports First Quarter 2024 Net Earnings of $194 Million, Adjusted EBITDA of $459 Million • Ouro Announces $275,000 Gift to 2024 State Teachers of the Year in Multi-Year, Multi-Million Dollar Pledge • The Charismatic Episcopal Church of North America to hold their National Convocation in Orlando • Parkland Reports 2024 First Quarter Results • Paradox Public Relations Partners With Art Shield to Promote Next Generation of Ukrainian Artists

SCHMITT DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Sch

NEW YORK , December 10 /Businesswire/ - Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against Schmitt Industries, Inc. (“Schmitt” or the “Company”) (NASDAQ: SMIT) on behalf of all persons and entities who purchased or otherwise acquired Schmitt securities between September 1, 2020 and September 20, 2022, both dates inclusive (the “Class Period”). Investors have until December 12, 2022 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

On September 20, 2022, after the market closed, Schmitt announced that its previous financial statements “should no longer be relied upon” and would require restating, estimating that “the errors were cumulatively material, resulting in an understatement of $330,203 in expenses for the first three quarters of the fiscal year.

On this news, Schmitt stock fell $0.68, or 17.9%, to close at $3.12 per share on September 21, 2022, hurting investors.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Schmitt Industries continuously downplayed its serious issues with internal controls; (2) Schmitt Industries’ financial statements from August 31, 2021, to the present included “certain errors”; (3) as a result, Schmitt Industries would need to restate its previously filed financial statements for certain periods; and (4) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

If you purchased or otherwise acquired Schmitt shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.