Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Ternium S.A. (TX)
NEW YORK, Nov. 30, 2018 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Ternium S.A. (“Ternium” or the “Company”) (NYSE: TX) in the United States District Court for the Eastern District of New York on behalf of a class consisting of investors who purchased or otherwise acquired Ternium securities between May 1, 2014 through November 27, 2018, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ alleged violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder.
The Complaint in the lawsuit alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) Defendant Rocca, Ternium’s Chairman, knew that one of his company’s executives paid cash to government officials from 2009 to 2012 to expedite compensation payments for the sale of Ternium’s Sidor unit; (2) this conduct would lead Rocca to be charged in a graft scheme and subject Ternium, its affiliates, and/or its executives to heightened governmental scrutiny; and (3) as a result, Ternium’s public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the Complaint alleges that investors suffered damages.
Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the January 28, 2019 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at email@example.com or firstname.lastname@example.org.
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