An investigation on behalf of investors of Kobe Steel, Ltd. (ADR) (OTCMKTS:KBSTY) shares over potential securities laws violations by Kobe Steel, Ltd. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Kobe Steel, Ltd. (ADR) (OTCMKTS:KBSTY) concerning whether a series of statements by Kobe Steel, Ltd. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Japan based Kobe Steel, Ltd. is a steel manufacturer. On October 8, 2017, Kobe Steel stated that it has discovered that in its Aluminum & Copper Business, including group companies, a portion of the products traded with customers did not comply with the product specifications which were agreed between the Company and its customers. Data in inspection certificates had been improperly rewritten etc., and the products were shipped as having met the specifications concerned.

Shares of Kobe Steel, Ltd. (ADR) (OTCMKTS:KBSTY) declined to $3.95 per share on October 10, 2017.