THETHE LIMIT FOR THE COMPLAINT’S NOTIFICATION IS DECEMBER 12, 2022

NEW YORK, Oct. 20, 2022 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the District of Oregon on behalf of investors who purchased or otherwise acquired Schmitt Industries, Inc. (“Schmitt” or the “Company”). SMIT Securities between September 1, 2020 and September 20, 2022 inclusive (the “Collection Period”).

AAll investors who have bought the Shares and suffered losses are advised to contact the Company immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You can get additional information about the promotion or join the case on our website, www.whafh.com.

If you have suffered losses, you can at the latest December 12, 2022, request that the court appoint you lead plaintiff in the proposed class. Please contact Wolf Haldenstein to learn more about your rights.

PLEASE CLICK HERE TO JOIN THE CASE

On September 20, 2022, after the close of trading, Schmitt announced that its past financial statements “You shouldn’t rely on it anymore” and would require restatement to appreciate “The errors were material on a cumulative basis, resulting in a net underreporting of expenses of $330,203 compared to the first three quarters of the financial year.”

As a result of this news, Schmitt’s stock fell $0.68, or 17.9%, to close at $3.12 per share on September 21, 2022.

Wolf Haldenstein has extensive experience pursuing securities class actions and derivatives disputes in state and federal courts and appellate courts across the country. The firm has attorneys in various areas of law; and offices in New York, Chicago and San Diego. This firm’s reputation and expertise in shareholder and other class actions has been recognized repeatedly by the courts, which have assigned it significant positions in complex multiple district and consolidated securities disputes.

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