Cemex investors may receive additional information about the case by clicking the link "Submit Your Information" above.
According to the complaint, Cemex is a global building materials company that produces, distributes, and markets cement, ready-mix concrete, aggregates, and related building materials. Cemex operates throughout the Americas, Europe, Africa, the Middle East, and Asia.
The Class Period commences on August 14, 2014, when Cemex issued a press release entitled “Cemex Announces New CLH Cement Plant in Colombia,” announcing the construction of a cement plant in Colombia.
According to the complaint, on September 23, 2016, post-market, Cemex disclosed the company’s dismissal of two senior executives after an internal probe found that payments worth $20 million relating to a land deal in Colombia had breached company protocols. Following this news, Cemex’s American depositary receipt (“ADR”) price fell $0.17, or 2.28%, to close at $7.26 on September 26, 2016.
Then, on March 14, 2018, Cemex disclosed that the U.S. Department of Justice was investigating the company over payments made by the company related to a cement plant it is building in Colombia to determine whether any violations of federal bribery laws occurred. Following this news, Cemex’s ADR price fell $0.12, or 1.64%, to close at $7.21 on March 14, 2018.
The complaint alleges that, throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (i) Cemex executives had engaged in an unlawful bribery scheme in connection with the company’s business dealings in Colombia; (ii) discovery of the foregoing conduct would likely subject the company to heightened regulatory scrutiny and potential criminal sanctions; (iii) the company lacked adequate internal controls over financial reporting; and (iv) as a result, Cemex’s public statements were materially false and misleading at all relevant times.
If you are a member of the class described above, you may no later than May 15, 2018 move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. 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 toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at email@example.com. For more information about Kessler Topaz Meltzer & Check, LLP, please visit our website at http://www.ktmc.com. If you would like additional information about the suit, please fill out the attached form as promptly as possible and return it by fax to 610-667-7056, or by mail in the enclosed envelope.
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
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