DEADLINE ALERT: Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 from Investment in LSB Industries, In...
29 Octubre 2015 - 3:45PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court for the Southern
District of New York on behalf of purchasers of LSB Industries,
Inc. (NYSE: LXU) (“LSB” or the “Company”) securities during the
period between May 8, 2015 and August 7, 2015, inclusive (the
“Class Period”). Investors who wish to become proactively involved
in the litigation have until November 24, 2015 to seek appointment
as lead plaintiff.
If you have suffered a loss from investment in LSB securities
purchased on or after May 8, 2015 and held through the revelation
of negative information during and/or at the end of the Class
Period, as described below, and would like to learn more about this
lawsuit and your ability to participate as a lead plaintiff,
without cost or obligation to you, please visit our website at
http://www.browerpiven.com/currentsecuritiescases.html. You may
also request more information by contacting Brower Piven either by
email at hoffman@browerpiven.com or by telephone at (410) 415-6616.
No class has yet been certified in the above action. Members of the
Class will be represented by the lead plaintiff and counsel chosen
by the lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from
investment in Company securities during the Class Period. Brower
Piven also encourages anyone with information regarding the
Company’s conduct during the period in question to contact the
firm, including whistleblowers, former employees, shareholders and
others.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that the Company’s
costs related to the expansion of its El Dorado Facility would be
significantly higher than reported.
According to the complaint, following the Company’s August 7,
2015 revelation that it intended to implement certain
recommendations after the Strategic Committee of the LSB Industries
Board of Directors reviewed the Company’s business strategy,
corporate governance structure, related party transactions and
other governance practices of the Company and that the total cost
to complete the El Dorado Facility expansion would be in the range
of $660 million to $680 million despite previous estimates of $495
million to $520 million, the value of LSB shares declined
significantly.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
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version on businesswire.com: http://www.businesswire.com/news/home/20151029006831/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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