September 10, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Shiloh Industries, Inc. (NASDAQ:SHLO) shares over potential securities laws violations by Shiloh Industries, Inc. and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Shiloh Industries, Inc. (NASDAQ:SHLO) concerning whether a series of statements by Shiloh Industries, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Shiloh Industries, Inc. reported that its Total Revenue rose from $517.74 million for the 12 months period that ended on October 31, 2010 to $878.74 million for the 12 months period that ended on October 31, 2014 and that its Net Income for those time periods increased from $7.84 million to $22.44 million.
On September 9, 2015, Shiloh Industries, Inc. announced that it would be unable to timely file its quarterly report for the period ended July 31, 2015, because of an ongoing internal investigation into the accounting for certain costs at the Companys facility in Wellington, Ohio. Shiloh Industries, Inc. has further disclosed an audit committee investigation to assess the nature and extent of any misstatements, and their potential effect on previously issued financial statements and managements internal control over financial reporting.

Shares of Shiloh Industries, Inc. (NASDAQ:SHLO) declined to as low as $8.66 per share on September 10, 2015.