NEW YORK, May 18, 2016 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Gerdau S.A. ("Gerdau" or the "Company") (NYSE: GGB).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that several of its executives might have been involved in illegal activities and tax evasion.
Specifically, on May 16, 2016, Brazilian news agencies reported that Brazil's federal police charged several Gerdau executives, including Chief Executive Officer André Gerdau Johannpeter, of bribery, money laundering, and influence peddling. Furthermore, the Company is being accused of evading $429 million in taxes.
On this news, Gerdau's share price has fallen from a closing price of $ 1.72 per share on May 16, 2016 to a low price of $1.59 on May 17, 2016 —a $0.13 or a 7.5% drop.
Request more information now by clicking here: www.faruqilaw.com/GGB. There is no cost or obligation to you.
If you invested in Gerdau stock or options and would like to discuss your legal rights, visit www.faruqilaw.com/GGB. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Gerdau's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
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Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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