Bragar Eagle & Squire, PC reminds investors of this class

Bragar Eagle & Squire, PC reminds investors of this class


NEW YORK, Nov. 06, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, reminds investors that class action lawsuits may be filed on behalf of shareholders of Schmitt Industries, Inc. (NASDAQ: SMIT) and Block, Inc. (NYSE: SQ), Twitter, Inc. (NYSE: TWTR) and Compass Minerals International, Inc. (NYSE: CMP). Shareholders have until the deadlines below to petition the court to appear as lead plaintiffs. For more information on each case, see the link provided.

Schmitt Industries, Inc. (NASDAQ:SMIT)

Class Period: September 1, 2020 – September 20, 2022

Lead Plaintiff Deadline: December 12, 2022

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

On the 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 Complaint, throughout the Class Period, the Defendants made false and/or misleading statements and/or failed to disclose that: (1) Schmitt Industries has 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, statements made by defendants about their businesses, operations and prospects were materially false and misleading and/or lacked any reasonable basis at all relevant times.

For more information on the Schmitt class action go to:

Block, Inc. (NYSE:SQ)

Class Period: November 4, 2021 and April 4, 2022

Lead Plaintiff Deadline: December 12, 2022


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