Kobe Steel, Ltd.
|Company Name||Kobe Steel, Ltd.|
On October 8, 2017, Kobe Steel issued a press release acknowledging “improper conduct” affecting its Aluminum & Copper Business. Kobe Steel recognized that “a portion of the products traded with customers did not comply with the product specifications which were agreed between the Company and its customers.” The Company also stated it has been conducting an investigation into the improper conduct and whether said conduct exists in other business units.
On this news, shares of Kobe Steel securities fell significantly in value, thereby injuring investors.
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