Energy News / Shareholders Foundation, Inc.

OTC: GLNCY Shareholder Alert: Investigation over Possible Violations of Securities Laws by Glencore Plc

Via: ReleaseWire

Updated 12:43 PM CST, Mon, December 17,2018

An investigation for investors in Glencore Plc (OTC: GLNCY) shares over potential securities laws violations by Glencore Plc was announced.

San Diego, CA -- (SBWIRE) -- 12/17/2018 -- Glencore Plc is under investigation over potential securities laws violations in connection with certain financial statements.

Investors who purchased shares of Glencore Plc (OTC: GLNCY), have certain options and should contact the Shareholders Foundation at or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Glencore Plc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Switzerland based Glencore plc engages in the production, refinement, processing, storage, transport and marketing of metals and minerals, energy products, and agricultural products worldwide. On July 3, 2018, Glencore Plc disclosed on July 3, 2018, that the U.S. Department of Justice issued a subpoena to a subsidiary of the Company to produce records and other documentation regarding compliance with money laundering statutes and the Foreign Corrupt Practices Act.

On July 9, 2018, a lawsuit was filed against Glencore Plc (OTC: GLCNF, GLNCY), over alleged violations of Federal Securities Laws. The plaintiff claimed that between September 30, 2016 and July 2, 2018, the defendants made false and/or misleading statements and/or failed to disclose that Glencore's conduct would subject it to heightened scrutiny by U.S. and foreign government bodies resulting in investigations into the company's compliance with money laundering and bribery laws, as well as the Foreign Corrupt Practices Act, and that as a result, defendants' statements about Glencore's business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.

On December 5, 2018, it was reported that Glencore Plc and other trading firms paid over $30 million in bribes to employees of state-owned oil company Petróleo Brasileiro S.A. – Petrobras in a graft scheme that Brazilian prosecutors believe may still be ongoing. As part of the scheme, Petrobras employees offered the trading companies lower prices for oil, derivatives, and storage tanks, then shared in the savings. According to the article, top executives of the companies had "total and unequivocal" knowledge of the graft scheme.

Those who purchased shares of Glencore Plc (OTC: GLNCY) have certain options and should contact the Shareholders Foundation.

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.

Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739

For more information on this press release visit:

Media Relations Contact
Michael Daniels
Email: Click to Email Michael Daniels