Kendall Law Group announced today that it is beginning an investigation on behalf of shareholders of Schweitzer-Mauduit International, Inc. (NYSE:SWM) for potential violations of state and federal securities laws. The firm believes that Schweitzer and certain of its officers failed to disclose adverse facts about the strength of their competitive position, affecting stock purchased between August 5, 2009 and February 10, 2010. Shareholders who purchased SWM stock before or during above time period may have a claim against the company and are encouraged contact attorney Hamilton Lindley at 877-744-3728 or email@example.com for more information.
The firm’s investigation concerns whether SWM common stock was trading at artificially inflated prices during the relevant time period, due to misrepresentations made by Schweitzer regarding their competitive position. Schweitzer’s foreign competitors were increasingly developing alternative methods to manufacture banded low ignition propensity paper. In fact, Schweitzer had lost one of their largest customers to their competitors.
Schweitzer waited until a conference call held on February 10, 2010 after reporting their fourth quarter and full year 2009 financial results to disclose that they had lost their most important customer to a competitor. Schweitzer stock dropped nearly 34% on February 11, 2010, closing at $46.65 per share.
Kendall Law Group, led by a former federal judge and former U.S. Attorney, has the credentials to pursue any type of complex securities litigation in the nation. The national securities firm gives shareholders power when big businesses violate the law. Protect your rights as a shareholder by contacting Kendall Law Group.