Scott+Scott Attorneys at Law LLP Reminds Investors of Securities Class Action Against Ternium S.A. (TX) and January 28 Lead Plaintiff Deadline
NEW YORK--(BUSINESS WIRE)--Dec 19, 2018--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, reminds investors that a class action lawsuit has been filed against Ternium S.A. (“Ternium” or the “Company”) (NYSE: TX) and other defendants, related to alleged violations of federal securities laws. If you purchased Ternium securities between May 1, 2014 through November 27, 2018, you are encouraged to contact a Scott+Scott attorney at (844) 818-6980 for more information. The lead plaintiff deadline is January 28, 2019.
Ternium, through its subsidiaries, manufactures and processes various steel products.
The lawsuit alleges the defendants made false and/or misleading statements and/or failed to disclose that: (1) Paolo 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.
On November 27, 2018, Bloomberg and the Financial Times reported that Rocca was indicted for his role in the Argentinian “notebook scandal.” According to Bloomberg, “[t]he judge charged Rocca after the Argentine billionaire testified that one of his company’s executives paid an undisclosed amount of cash to government officials in monthly installments from 2009 to 2012.”
On this news, the price of Ternium American Depository Receipts (“ADRs”) dropped $1.42 per share – nearly 5% – to close at $28.02 on November 27, 2018.
What You Can Do
If you purchased Ternium securities between May 1, 2014 through November 27, 2018, inclusive, or if you have questions about this notice or your legal rights, please contact attorney Rhiana Swartz at (844) 818-6980, or at email@example.com.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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CONTACT: Rhiana Swartz
Scott+Scott Attorneys at Law LLP
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Scott+Scott Attorneys at Law LLP
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PUB: 12/19/2018 12:29 PM/DISC: 12/19/2018 12:29 PM