On December 05, 2018, the initial complaint in this securities class action was filed against Loma Negra Compania Industrial Argentina SA (“Loma Negra” or the “Company”), and certain of Loma Negra’s directors and officers, asserting claims under sections 11, 12, and 15 of the of the Securities Exchange Act.
The complaint alleged that the October 2017 registration statement for Loma Negra's Initial Public Offering (“IPO”), which was priced at $19 per American Depositary Share (“ADSs”) the following month and issued 53.5 million shares, misrepresented the Company's exposure to a massive, ongoing corruption scandal plaguing its majority owner.
This is a securities class action brought on behalf of all those who purchased or acquired Loma Negra ADSs (1) pursuant or traceable to the Offering Documents issued in connection with the Company’s IPO on or about November 2, 2017, seeking to pursue remedies under the Securities Act; and/or (2) on the open market between November 2, 2017 and May 23, 2018, inclusive.
Current Status of Case:
The lead plaintiff filed an amended complaint on April 26, 2019. The defendants filed a motion to dismiss the amended complaint on September 19, 2019. On April 27, 2020, the Court issued an Order granting the defendants' motion to dismiss. On May 28, 2020, the lead plaintiff filed an appeal of the motion to dismiss Order with the United States Court of Appeals for the Second Circuit. On July 17, 2020, the parties filed a stipulation that the lead plaintiff voluntarily dismissed the appeal, which was subsequently Ordered by the appellate Court.
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: James Maro, Esq. (484-270-1453) or Adrienne Bell, Esq. (484-270-1435); toll-free at (844) 887-9500; or via e-mail at email@example.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.