Loma Negra Compania Industrial Argentina Sociedad Anonima (NYSE: LOMA)
Hagens Berman Sobol Shapiro LLP alerts investors in Loma Negra Compania Industrial Argentina Sociedad Anonima (NYSE: LOMA) to the firm's investigation into possible securities law violations.
If you purchased or otherwise acquired securities of LOMA in or after the Company’s November 2017 IPO and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more infomation contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing LOMA@hbsslaw.com.
During early November 2017, Loma Negra closed its IPO and, together with its controlling and selling shareholder, issued over 53 million ADSs at $19.00 each.
On May 23, 2018, several Argentinian-based media sources began reporting that Argentina’s National Commission of Competition Defense (“CNDC”) was investigating that country’s cement companies (of which Loma Negra was the largest) for price-fixing. Based on this news and on certain previous negative analyst reports, the price of Loma Negra ADSs fell to $12.99, or over 31% below the IPO price.
“We’re focused on investors’ losses and IPO statements that, if untrue or incomplete, could have misled Loma Negra investors,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Loma Negra should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email LOMA@hbsslaw.com.
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