INVESTOR ALERT: Brower Piven Encourages Shareholders Who Have Losses In Excess Of $100,000 From Investment In Gerdau S.A. To ...

The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Gerdau S.A. (NYSE:GGB) (“Gerdau” or the “Company”) American Depositary Receipts (“ADRs”) during the period between June 2, 2011 and May 15, 2016, inclusive (the “Class Period”).  Investors with losses in excess of $100,000 who wish to become proactively involved in the litigation have until July 25, 2016 to seek appointment as lead plaintiff.

If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court.  The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action.  The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Gerdau ADRs during the Class Period.  Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.  No class has yet been certified in the above action.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that the Company was engaged in a bribery scheme in collusion with Brazil’s Board of Tax Appeals, Gerdau had defrauded Brazilian tax authorities of roughly $429 million in taxes, and Gerdau’s Chief Executive Officer and other directors and employees of the Company had engaged in bribery, money laundering, and influence peddling.

According to the complaint, following the May 16, 2016 reports by various news outlets that Brazil’s federal police had accused the Company of evading $429 million in taxes and indicted a total of 19 Company personnel on corruption-related charges, including bribery, money laundering, and influence peddling, the value of Gerdau shares declined significantly.

If you have suffered a loss from investment in Gerdau ADRs purchased on or after June 2, 2011 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html.  You may also request more information by contacting Brower Piven either by email at [e-mail] or by telephone at [phone].  Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.  If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice.  You need take no action at this time to be a member of the class.

CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: [phone]
[e-mail]