The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Loma Negra Compañía Industrial Argentina Sociedad Anónima (NYSE: LOMA) American Depositary Shares pursuant and/or traceable to the Company’s June 2017 IPO.
The complaint alleges that the Registration Statement contained untrue statements of material fact and omitted material facts. In particular, the Registration Statement downplayed and misrepresented Loma Negra’s exposure to a massive, ongoing corruption scandal engulfing its majority owner, InterCement Participações S.A. The Registration Statement further misrepresented a purported increased demand for Loma Negra’s cement and other products as a result of economic growth and government funding for public works projects in Argentina, as well as the purported benefits to Loma Negra from that increased demand. The Registration Statement also misrepresented events and trends in the Argentinian economy, as well as Loma Negra’s exposure thereto.
If you suffered a loss in Loma Negra you have until February 4, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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