Cases
Loma Negra Compañía Industrial Argentina Sociedad Anónima (LOMA)
Securities Class Action
Overview
Overview
- Date:
- 12/6/2018
- Company Name:
- Loma Negra Compaña Industrial Sociedad Anónima
- Stock Symbol:
- LOMA
- Class Period:
- FROM 11/1/2017
- Status:
- Closed/Complete
NEW YORK, December 6, 2018 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Loma Negra Compañía Industrial Argentina Sociedad Anónima (NYSE: LOMA) securities pursuant and/or traceable to Loma Negra’s Initial Public Offering (“IPO”) on or about November 1, 2017. Investors have until February 4, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that Loma Negra’s Registration Statement contained materially false statements and omitted facts including: (1) downplaying and misrepresenting Loma Negra’s exposure to a massive, ongoing corruption scandal engulfing its majority owner, InterCement Participac¸oÞes 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.
If you purchased Loma Negra securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The complaint alleges that Loma Negra’s Registration Statement contained materially false statements and omitted facts including: (1) downplaying and misrepresenting Loma Negra’s exposure to a massive, ongoing corruption scandal engulfing its majority owner, InterCement Participac¸oÞes 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.
If you purchased Loma Negra securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.