Ternium Class Action Lawsuit: Bernstein Liebhard LLP Announces That A Securities Class Action Lawsuit Has Been Filed Against Ternium S.A. - TX
NEW YORK, Nov. 29, 2018 /PRNewswire/ -- Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of those who purchased or acquired the securities of Ternium S.A. ("Ternium" or the "Company") (NYSE: TX) between May 1, 2014 and November 27, 2018, both dates inclusive (the "Class Period"). The lawsuit seeks to recover Ternium shareholders' investment losses.
If you purchased Ternium securities, and/or would like to discuss your legal rights and options, please visit Ternium Shareholder Class Action Lawsuit or contact Daniel Sadeh toll free at (877) 779-1414 or [email protected].
According to the lawsuit, throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Defendant Rocca, Ternium's Chairman, knew that one of his company's executives paid cash to government officials from 2009 to 2012 to expedite compensation payments for the sale of Ternium's Sidor unit; (2) this conduct would lead Rocca to be charged in a graft scheme and subject Ternium, its affiliates, and/or its executives to heightened governmental scrutiny; and (3) as a result, Ternium's public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On November 27, 2018, Bloomberg reported that Ternium's Chairman and Chief Executive Officer Paolo Rocca was indicted for his role in a graft scheme. According to the article, "[t]he judge charged Rocca after the Argentine billionaire testified that one of his company's executives paid an undisclosed amount of cash to government officials in monthly installments from 2009 to 2012." The article stated that "[t]he officials were allegedly working for then-President Cristina Fernandez de Kirchner's administration to speed up a compensation payment from Venezuela[]…for the nationalization of Sidor, a unit that…Rocca's group was [ultimately paid] $1.95 billion for[.]" The judge set a $103 million bond and banned Rocca from leaving the country.
On this news, Ternium's stock fell $1.42 per share or nearly 5% to close at $28.02 per share on November 27, 2018, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than January 28, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased Ternium securities, and/or would like to discuss your legal rights and options, please visit https://www.bernlieb.com/cases/ternium-sa-tx-lawsuit-class-action-fraud-stock-95/ or contact Daniel Sadeh toll free at (877) 779-1414 or [email protected].
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.
ATTORNEY ADVERTISING. © 2018 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information
Daniel Sadeh
Bernstein Liebhard LLP
http://www.bernlieb.com
(877) 779-1414
[email protected]
SOURCE Bernstein Liebhard LLP
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