Schmitt Industries Inc. Common Stock (NASDAQ: SMIT)
Company Name:Schmitt Industries Inc. Common Stock
Stock Symbol:NASDAQ: SMIT
Class Period Start:09/01/2020
Class Period End (inclusive):09/20/2022
The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Schmitt Industries continuously downplayed its serious issues with internal controls; (2) Schmitt Industries' financial statements from August 31, 2021 to the present included "certain errors"; (3) as a result, Schmitt Industries would need to restate its previously filed financial statements for certain periods; and (4) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.