OTC: MIELY, MIELF | Mitsubishi Electric Corporation Securities Fraud Investigation
Shamis Gentile, a corporate securities fraud law firm, announces it is investigating potential securities claims on behalf of shareholders of Mitsubishi Electric Corporation (OTC: MIELY, MIELF) resulting from allegations that Mitsubishi Electric may have issued materially misleading business information to the investing public.
If you purchased Mitsubishi Electric Corporation and would like to join the action, please contact us immediately! Such investors are advised to contact attorney Andrew Shamis at info@shamisgentile.com or 305-479-2299.
Press Release
SHAMIS GENTILE, A TOP RANKED LAW FIRM, Encourages Mitsubishi Electric Corporation Investors with Losses to Inquire About Class Action Investigation – MIELY, MIELF
WHY: New York, N.Y., July 8, 2021. Shamis Gentile, a corporate securities fraud law firm, announces it is investigating potential securities claims on behalf of shareholders of Mitsubishi Electric Corporation (OTC: MIELY, MIELF) resulting from allegations that Mitsubishi Electric may have issued materially misleading business information to the investing public.
WHAT: If you purchased Mitsubishi Electric securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. Shamis & Gentile, P.A. is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the Mitsubishi Electric Corporation class action, please contact Andrew J. Shamis, Esq. at 305-479-2299 or email info@shamisgentile.com for information on the class action.
WHAT IS THIS ABOUT: On June 30, 2021, The Asahi Shimbun, a Japanese newspaper, published an article entitled “Mitsubishi Electric faked train test data likely for decades” which reported that “Mitsubishi Electric Corp. is feeling the heat after admitting that it has faked testing data when supplying train companies with air conditioning equipment apparently for more than 30 years.” The article further reported that “[a]lthough no such tests were conducted, fake data was created and included in test reports to give the appearance there were no problems with the equipment.” On this news, Mitsubishi Electric’s American depositary shares fell $1.54 per ADS, or 5%, to close at $27.30 per ADS on July 1, 2021.
On July 2, 2021, Nikkei Asia published an article entitled “Mitsubishi Electric CEO Sugiyama quits over fake inspections: Outgoing chief admits ‘systemic wrongdoing’ going back decades at industrial group[.]” On this news, Mitsubishi Electric’s American depositary shares fell over 5% over the next three days to close at $26.15 per ADS on July 8, 2021.
WHY SHAMIS GENTILE LAW: Shamis & Gentile, P.A. is dedicated in helping misled shareholders recover damages caused by corporate fraud and other misconduct. Our securities attorneys have a wealth of knowledge and experience handling complex litigation cases and achieving significant victories and settlements for clients (over 500 million recovered and counting). In addition to our experience litigating securities cases, our attorneys have been routinely certified class counsel throughout the country where our firm has gained a reputation of one that litigates the right way and achieves large monetary settlements. Our team comes from diverse and unique backgrounds, making us equipped to bring the fight anytime and anywhere on behalf of our clients.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Andrew J. Shamis, Esq.
Shamis & Gentile, P.A.
Miami Headquarters
14 NE 1st Ave, Suite 705,
Miami, FL 33132
Tel: 305-479-2299
Fax: 786-623-0915
