EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Loma Negra Compania Industrial Argentina Sociedad Anonima – LOMA
NEW YORK--(BUSINESS WIRE)--Dec 5, 2018--Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Loma Negra Compania Industrial Argentina Sociedad Anonima (NYSE:LOMA) pursuant and/or traceable to Loma Negra’s Registration Statement filed in connection with its November 2017 Initial Public Offering (“IPO”). The lawsuit seeks to recover damages for Loma Negra investors under the federal securities laws.
To join the Loma Negra class action, go to https://www.rosenlegal.com/cases-1370.html or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.
The complaint alleges that Loma Negra’s Registration Statement contained untrue statements of material fact and omitted to state material facts both required by governing regulations and necessary to make the statements made not misleading, including: (1) downplaying and misrepresenting Loma Negra’s exposure to a massive, ongoing corruption scandal engulfing its majority owner, InterCement ParticipaçoÞes S.A.; (2) misrepresenting a purported increased demand for Loma Negra’s cement and other products as a result of economic growth and government funding for public works projects in Argentina, as well as the purported benefits to Loma Negra from that increased demand; (3) misrepresenting events and trends in the Argentinian economy, as well as Loma Negra’s exposure thereto; and (4) including references to known risks that “if” occurring “might” or “could” affect Loma Negra, despite the fact that these “risks” had already materialized at the time of the IPO. When the truth of defendants’ misrepresentations and omissions became known, the price of Loma Negra shares suffered sharp declines. At the commencement of the lawsuit, Loma Negra’s securities were trading more than 40% below the $11 IPO price.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 4, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to https://www.rosenlegal.com/cases-1370.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Zachary Halper, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
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CONTACT: Laurence Rosen, Esq.
Phillip Kim, Esq.
Zachary Halper, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 34thFloor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: The Rosen Law Firm, P.A.
Copyright Business Wire 2018.
PUB: 12/05/2018 04:19 PM/DISC: 12/05/2018 04:19 PM