(Rosen Law Firm, Jan. 15, 2019) â Rosen Law Firm reminds purchasers of the securities of Loma Negra Compania Industrial Argentina Sociedad Anonima pursuant and/or traceable to Loma Negraâs Registration Statement filed in connection with its November 2017 Initial Public Offering (IPO) of the important February 4, 2019 lead plaintiff deadline in the class action. 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 pkim@rosenlegal.com or zhalper@rosenlegal.com 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 INVESTORâS ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.
The complaint alleges that Loma Negraâs 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 Negraâs exposure to a massive, ongoing corruption scandal engulfing its majority owner, InterCement ParticipaçoÌes S.A.; (2) misrepresenting a purported increased demand for Loma Negraâs 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 Negraâs exposure thereto; and (4) including references to known risks that âifâ occurring âmightâ or âcouldâ affect Loma Negra, despite the fact that these ârisksâ 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 Negraâs 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.
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