LSB Industries Inc. Shareholder Alert: Former SEC Attorney Willie Briscoe & Powers Taylor Investigate Possible Breaches of Fi...
13 Noviembre 2015 - 11:40AM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the
securities litigation firm of Powers Taylor LLP announce that a
federal class action lawsuit has been filed in the United States
District Court for the Southern District of New York against LSB
Industries, Inc. (“LSB”) (NYSE: LXU) and several officers and
directors for acts taken during the period of May 8, 2015 and
August 7, 2015 (the “Class Period”).
If you are an affected LSB shareholder and want to learn more
about the lawsuit or join the action, contact Willie Briscoe at The
Briscoe Law Firm, PLLC via email at
shareholders@thebriscoelawfirm.com, Patrick Powers at Powers Taylor
LLP via email at shareholder@powerstaylor.com, or call toll free at
(877) 728-9607. There is no cost or fee to you.
According to the complaint, the defendants are alleged to have
violated certain provisions of the Securities Exchange Act of 1934.
Specifically, the complaint alleges, among other things, that
defendants issued made failed to disclose that its costs related to
the expansion of the El Dorado Facility would be significantly
higher than reported, and that, as a result, its statements about
its business, operations, and prospects, were false and misleading
and/or lacked a reasonable basis. LSB announced on August 7, 2015
its intent to implement certain recommendations by the Strategic
Committee of the Board of Directors and that the total cost to
complete the El Dorado Facility expansion would now be in the range
of $660 million to $680, much higher than its previous estimates of
$495 million to $520 million on May 8, 2015. LSB stock dropped over
34% immediately following this announcement.
The Briscoe Law Firm, PLLC is a full service business
litigation, commercial transaction, and public advocacy firm with
more than 20 years of experience in complex litigation and
transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles
a variety of complex business litigation matters, including claims
of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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version on businesswire.com: http://www.businesswire.com/news/home/20151113005691/en/
The Briscoe Law Firm, PLLCWillie Briscoe,
877-728-9607shareholders@thebriscoelawfirm.comorPowers Taylor
LLPPatrick Powers, 877-728-9607shareholder@powerstaylor.com
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