BENSALEM, Pa.--(BUSINESS WIRE)--In the release dated Nov. 2, 2015, the deadline to file a lead plaintiff motion should read: November 24, 2015 (instead of November 20, 2015).
The corrected release reads:
INVESTOR DEADLINE ALERT: LAW OFFICES OF HOWARD G. SMITH REMINDS LSB INDUSTRIES, INC. INVESTORS OF UPCOMING LEAD PLAINTIFF DEADLINE
Law Offices of Howard G. Smith reminds investors of the upcoming November 24, 2015 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased LSB Industries, Inc. securities (“LSB Industries” or the “Company”) (NYSE: LXU) between May 8, 2015 and August 7, 2015, inclusive (the “Class Period”). Investors who suffered losses of over $100,000 on their investment in LSB Industries securities are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights.
On August 7, 2015, the Company 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 estimates 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. On September 3, 2015, the Company announced that LSB President and Chief Executive Officer Barry H. Golsen had resigned effective immediately.
The Complaint alleges that throughout the Class Period, Defendants 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 LSB Industries shares, you may move the Court no later than November 24, 2015 to request appointment as lead plaintiff. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.
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