Glancy Prongay & Murray Announces the Filing of a Securities Class Action on Behalf of Gerdau S.A. Investors and Encourages Investors to Contact the Firm

LOS ANGELES--(BUSINESS WIRE)-- Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased Gerdau S.A. (“Gerdau” or the “Company”) (NYSE: GGB) securities between June 2, 2011 and May 15, 2016, inclusive (the “Class Period”). Gerdau investors have until July 25, 2016 to file a lead plaintiff motion.

Investors suffering losses on their Gerdau investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to [email protected].

Throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company was engaged in a bribery scheme in collusion with Brazil’s Board of Tax Appeals (“CARF”); (ii) Gerdau had defrauded Brazilian tax authorities of roughly $429 million in taxes; (iii) Gerdau’s Chief Executive Officer (“CEO”), Defendant André Bier Gerdau Johannpeter (“Johannpeter”) and other directors and employees of the Company had engaged in bribery, money laundering, and influence peddling; and (iv) as a result of the foregoing, Defendants’ statements about Gerdau’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

If you purchased shares of Gerdau during the Class Period you may move the Court no later than July 25, 2016 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160629005384/en/

Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
https://www.glancylaw.com
[email protected]

Source: Glancy Prongay & Murray LLP

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