Glancy Prongay & Murray LLP Reminds Investors of the Deadline in the Class Action Lawsuit Against Ferroglobe PLC (GSM)
LOS ANGELES, Jan. 30, 2019 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the March 25, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Ferroglobe PLC (“Ferroglobe” or the “Company”) (NASDAQ: GSM ) securities between August 21, 2018 and November 26, 2018, inclusive (the “Class Period”) Ferroglobe investors have until March 25, 2019 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
On November 26, 2018, the Company reported a net loss of $2.9 million for the third quarter 2018, compared to a net profit of $66.0 million the prior quarter. On this news, the Company’s share price fell $2.97 per share, more than 62%, to close at $1.80 per share on November 27, 2018, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that there was excess supply of the Company’s products; (2) that demand for the Company’s products was declining; (3) that, as a result, the pricing of the Company’s products would be materially impacted; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
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If you purchased shares of Ferroglobe, you may move the Court no later than March 25, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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