NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of the American Depositary Shares of Desarrolladora Homex, S.A.B. de C.V. (formerly NYSE: HXM; formerly OTCMKTS: DHOXQ; formerly OTCMKTS: DHOXY) resulting from allegations that Homex may have issued materially misleading business information to the investing public.
On March 3, 2017, Homex agreed to settle charges with the U.S. Securities and Exchange Commission (“SEC”) for allegedly reporting $3.3 billion in fraudulent sales revenue to boost revenues in its financial statements during a three year period. According to the SEC’s complaint, between 2010 and 2013, Homex overstated its revenue by 355%, or roughly $3.3 billion by reporting fictitious sales of more than 100,000 homes, inflating the numbers of homes actually sold more than fourfold. The SEC’s complaint further alleges that “Homex’s Headquarters Financial Reporting Personnel intentionally and knowingly uploaded false information into the Company’s internal reporting and accounting systems in order to perpetrate the fictitious revenue scheme.”
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Homex investors. If you purchased shares of Homex on or before December 9, 2016, please visit the firm’s website at http://www.rosenlegal.com/cases-1076.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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