Investor Deadline Alert: Law Offices of Howard G. Smith Reminds LSB Industries, Inc. Investors of Upcoming Lead Plaintiff Dea...
02 Noviembre 2015 - 10:59AM
Business Wire
Law Offices of Howard G. Smith reminds investors of the
upcoming November 20, 2015 deadline to file a lead
plaintiff motion in the class action filed on behalf of investors
who purchased LSB Industries, Inc. securities (“LSB Industries” or
the “Company”) (NYSE: LXU) between May 8, 2015 and August 7, 2015,
inclusive (the “Class Period”). Investors who suffered losses of
over $100,000 on their investment in LSB Industries securities are
encouraged to contact the Law Offices of Howard G. Smith to discuss
their legal rights.
On August 7, 2015, the Company revealed 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.
Additionally the Company announced that the total cost to complete
the El Dorado Facility expansion would now be in the range of $660
million to $680 million, significantly higher than its previous
estimates of $495 million to $520 million on May 8, 2015. On this
news, shares of LSB declined $12.09 per share, over 34%, to close
on August 7, 2015, at $23.01 per share, on heavy volume. On
September 3, 2015, the Company announced that LSB President and
Chief Executive Officer Barry H. Golsen had resigned effective
immediately.
The Complaint alleges that throughout the Class Period,
Defendants made false and/or misleading statements and/or failed to
disclose: (1) that the Company’s costs related to the expansion of
the El Dorado Facility would be significantly higher than reported;
and, (2) that, as a result of the foregoing, the Company’s
statements about its business, operations, and prospects, were
false and misleading and/or lacked a reasonable basis.
If you purchased LSB Industries shares, you may move the Court
no later than November 20, 2015 to request
appointment as lead plaintiff. To be a member of the class you need
not take any action at this time; you may retain counsel of your
choice or take no action and remain an absent member of the Class.
If you wish to learn more about this action, or if you
have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Howard G.
Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol
Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215)
638-4847, toll-free at (888) 638-4847, or by email
to howardsmith@howardsmithlaw.com, or visit our website
at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20151102006406/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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