Trending...
- Michael Judkins Releases New Poetry Book, Deeper Than You Think
- Accountants Near Me Cheyenne Opens U.S. Directory for Accountants, Bookkeepers and Tax Services
- Sacred Surrogacy, CFC, and Egghelpers Launch Women's Retreats
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Schmitt Industries, Inc. ("Schmitt" or the "Company") (NASDAQ: SMIT) investors concerning the Company's possible violations of federal securities laws.
On September 20, 2022, after the market closed, Schmitt announced that its previous financial statements "should no longer be relied upon" and would require restatement, estimating that "the errors were material on a cumulative basis resulting in a net $330,203 under-recognition of expenses over the first three quarters of the fiscal year."
On this news, Schmitt's stock fell $0.68, or 17.9%, to close at $3.12 per share on September 21, 2022, thereby injuring investors.
More on The PennZone
If you purchased Schmitt securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
On September 20, 2022, after the market closed, Schmitt announced that its previous financial statements "should no longer be relied upon" and would require restatement, estimating that "the errors were material on a cumulative basis resulting in a net $330,203 under-recognition of expenses over the first three quarters of the fiscal year."
On this news, Schmitt's stock fell $0.68, or 17.9%, to close at $3.12 per share on September 21, 2022, thereby injuring investors.
More on The PennZone
- Chronic Boss Awards Scholarships to Student Founders Living with Chronic Conditions
- Nest Finders Property Management Named #1 in Jacksonville and Ranked #99 Nationwide
- Nashville International Chopin Piano Competition Launches First Amateur Edition
- Anatomy Naturals Earns Industry Recognition for Small-Batch Botanical Skincare
- Market Value Enhancement From 2 Important New US Patents Issued for Strengthening Hair Enzyme Booster Technology to Caring Brands (NAS DAQ: CABR)
If you purchased Schmitt securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Filed Under: Business
0 Comments
Latest on The PennZone
- Sleep Basil Launches Revamped Diamond Mattress Collection Page, Highlighting Performance, Craftsmanship, and Personalized Comfort
- Sleep Basil Curates a Clearer Brooklyn Bedding Experience for Performance-Minded Denver Sleepers
- Nevada Man Launches Nationwide Animal Abuse Registry
- Star-powered Kappa Takeover Weekend Returns to the DMV June 18- 21, 2026, Hosted By Comedian Joe Clair W/ Dj Quick Silva (the Party Kingpin)
- Scoop Social Co. Wins The Knot and WeddingWire Awards as Brand Expands Nationwide
- Denise Murphy Lenci Promoted to Century Fasteners Corp. – General Manager, Northeast Sales
- TiNY Puts Real Pets on the Payroll for New PetArmor Campaign
- P‑Wave Classics Launches Definitive New Edition of Hannah Webster Foster's The Coquette
- Strategic Expansion with 3 New Alliances — Jefferson Beach Yacht Sales, CFR YS & flyExclusive Incentive Partnership: Off The Hook YS: (N Y S E: OTH)
- Super League (N A S D A Q: SLE) Advances AI-Driven Playable Media with AdArcade, Solsten, and Meta-Stadiums Partnerships, Plus Roblox Theatre Launch
- purelyIV Expands Concierge Wellness Platform with New IV Therapies, Memberships, and Digital Experience
- CCHR: Europe Rejects Forced Psychiatry—Landmark Vote Declares Coercive Practices Incompatible with Human Rights
- Crossroads4Hope Kicks Off Its 25th Year of Caring with the Launch of Free Breast and Colorectal Cancer Resources for Patients and Families Nationwide
- OpenSSL Corporation Advisory Committees' Elections 2026: Voting Now Open
- Good Vibes Club and Instant IP Forge Strategic Partnership to Secure IP Brand Value in a Booming Digital Economy
- Inkdnylon Simplifies Digitizing and Vector Art Nationwide With Clear Pricing and Guided File Support
- goldsilbermarkt.de Awarded "Business Champion" in Online Retail by DISQ
- Daniel Guest of Imagen Golf Named to GRAA Top 100 Emerging Golf Professionals
- InspireTech Global and SKADI Cyber Defense Announce Strategic Partnership to Deliver Autonomous Cybersecurity to Canadian Education and Public Sector
- Kaltra Expands Microchannel Innovation to Deliver Lower Refrigerant Charge