A lawsuit was filed on behalf of investors in Loma Negra Compañía Industrial Argentina Sociedad Anónima (NYSE: LOMA) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 12/19/2018 -- An investor, who purchased shares of Loma Negra Compañía Industrial Argentina Sociedad Anónima (NYSE: LOMA), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by Loma Negra Compañía Industrial Argentina Sociedad Anónima in connection with Loma Negra's November 2017 initial public stock offering (the "IPO" or "Offering").
Investors who purchased shares of Loma Negra Compañía Industrial Argentina Sociedad Anónima (NYSE: LOMA) have certain options and for certain investors are short and strict deadlines running. Deadline: February 4, 2019. NYSE: LOMA investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
In November 2017, Defendants commenced Loma Negra's initial public offering ("IPO"), issuing approximately 53.5 million ADS to the investing public at $19 per share, all pursuant to the Company's Registration Statement.
The lawsuit was filed on behalf of purchasers of Loma Negra Compañía Industrial Argentina Sociedad Anónima (NYSE: LOMA) who acquired Loma Negra American Depositary Shares ("ADS") pursuant or traceable to the registration statement, issued in connection with Loma Negra's November 2017 initial public stock offering,.
The plaintiff claims that the 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, that foremost, the Registration Statement downplayed and misrepresented Loma Negra's exposure to a massive, ongoing corruption scandal engulfing its majority owner, InterCement Participac?oes S.A, that the Registration Statement further misrepresented 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, that the Registration Statement also misrepresented events and trends in the Argentinian economy, as well as Loma Negra's exposure thereto, and that the Registration Statement contained many references to known risks that "if" occurring "might" or "could" affect the Company, despite the fact that these "risks" had already materialized at the time of the IPO.
The plaintiff says that Loma Negra and the other Defendants went forward with the IPO with the foregoing misrepresentations and omissions in the Registration Statement and that with these misrepresentations and omissions, the IPO was extremely lucrative for Defendants, who raised more than $1 billion in gross proceeds.
The plaintiff alleges that when the truth of Defendants' misrepresentations and omissions became known, the price of Loma Negra shares suffered sharp declines.
Shares of Loma Negra C.I.A.S.A. (NYSE:LOMA) declined from as high as $25.28 per share in January 2018 to as low as $6.36 per share in August 2018.
Those who purchased shares of Loma Negra Compañía Industrial Argentina Sociedad Anónima (NYSE: LOMA) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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