NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky has commenced an investigation on behalf of shareholders of LSB Industries, Inc. (NYSE:LXU) concerning whether LSB Industries and certain of its officers and/or directors have violated federal securities laws.
On May 8, 2015, the Company estimated that the total cost related to expansion projects at the Company’s El Dorado Chemical Company production facility would range from $495 million to $520 million. Then as recently as July 14, 2015, the Company updated the total cost range to $575 million, citing “productivity and quality issues with a subcontractor” as a contributing factor to the increase. Then on August 7, 2015, LSB Industries reported disappointing net sales of approximately $183 million for the second quarter of 2015, and updated the estimated total cost of the El Dorado projects to a range of $660 million to $680 million.” The Company again cited “work performed by a previous subcontractor” as part of the cause of the increase. To obtain additional information about this investigation, go to:
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