SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against Ferroglobe PLC (GSM) & Lead Plaintiff Deadline: March 25, 2019
NEW YORK, Jan. 24, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Ferroglobe PLC (“Ferroglobe” or the “Company”) (NASDAQ: GSM) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Ferroglobe securities from August 21, 2018 and November 26, 2018, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/gsm.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period Defendants made materially false and misleading statements and/or failed to disclose that: (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.
On November 26, 2018, Ferroglobe reported a net loss of $2.9 million for the third quarter of 2018, compared to a net profit of $66.0 million the prior quarter. In a press release, Ferroglobe attributed the Company’s poor performance to “market conditions in our main products [that] deteriorated through Q3.” On this news, the Company’s stock price fell $2.97 per share, more than 62%, to close at $1.80 per share on November 27, 2018.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/gsm or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Ferroglobe you have until March 25, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | firstname.lastname@example.org