Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Loma Negra Compania Industrial Argentina SA (“Loma Negra” or the “Company”) (NYSE: LOMA) American Depository Shares (“ADS”): (1) pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Offering Documents”) issued in connection with the initial public offering (“IPO”) on or about November 2, 2017; and/or (2) on between November 2, 2017 and May 23, 2018, inclusive (the “Class Period”).
The complaint alleges that the Offering Documents for Loma Negra's IPO misrepresented the Company's exposure to a massive, ongoing corruption scandal plaguing its majority owner.
Current Status of Case:
There were two class action lawsuits filed against Loma Negra - one in state court and the other in federal court – both of which allege the same claims against Defendants for violations of the federal securities laws by misstating and/or omitting material facts in documents issued in connection with Loma Negra’s IPO.
After the Court granted Defendants’ Motion to Dismiss, the Second Circuit Court of Appeals affirmed the dismissal of the federal action on July 21, 2020. The federal action has concluded.
On April 10, 2024, the State Court granted Final Approval of the Settlement. The state action has concluded.
Please be advised that the deadline to file a claim in the State Court action was April 19, 2024. You may find additional information regarding the terms of the settlement and claim filing process at www.lomanegrasecuritieslitigation.com, or you can contact the claims administrator, A.B. Data, Ltd. at 1-877-311-3744.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.