Bragar Eagel & Squire, P.C. Reminds Investors of the Lead Plaintiff Deadline in the Class Action Lawsuit Against LSB Industri...
09 Noviembre 2015 - 4:30PM
Business Wire
Bragar Eagel & Squire, P.C. reminds investors that a class
action complaint has been filed on behalf of LSB Industries, Inc.
(NYSE:LXU) investors who purchased shares between May 8, 2015 and
August 7, 2015, inclusive. LSB Industries investors have until
November 24, 2015 to file a lead plaintiff motion. Investors
are encouraged to contract J. Brandon Walker, Esq. to discuss their
legal rights.
On August 7, 2015, LSB Industries 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
estimate 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. Then, on
September 3, 2015, LSB Industries announced that LSB President and
Chief Executive Officer Barry H. Golsen had resigned effective
immediately.
The complaint alleges that throughout the Class Period, LSB
Industries 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 shares of LSB Industries between May 8, 2015
and August 7, 2015, inclusive, you may move the Court no later than
November 24, 2015 to request appointment as lead plaintiff.
If you purchased LSB Industries shares during this period, or if
you have information or would like to learn more about these claim,
or have any questions concerning this announcement or your rights
or interests with respect to these matters, please contact J.
Brandon Walker, Esq. by email at investigations@bespc.com, or
telephone at (212) 355-4648, or by filling out this contact form.
There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law
firm concentrating in commercial and securities litigation. For
additional information, please go to www.bespc.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20151109006587/en/
Bragar Eagel & Squire, P.C.J. Brandon Walker, Esq.,
212-355-4648investigations@bespc.com
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