SAN DIEGO & NUEVO LEÓN, Mexico--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Cemex, S.A.B. de C.V. (NYSE: CX) have filed a class action complaint against the company's officers and directors for alleged violations of the Securities Exchange Act of 1934 between August 14, 2014 and March 13, 2018. Cemex, together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, and other construction materials.
View this information on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/cemex-s-a-b-de-c-v
Cemex Accused of Engaging in Illegal Bribery Scheme
According to the complaint, Cemex executives engaged in an unlawful bribery scheme in connection with the company's business dealings in Colombia. On September 23, 2016, Cemex disclosed the company's dismissal of two senior executives after an internal probe found that payments worth $20 million relating to a land deal in Colombia had breached company protocols. On March 14, 2018, Cemex revealed that the U.S. Department of Justice was investigating the company concerning the company's payments related to a cement plant in Colombia to determine whether any violations of federal bribery laws occurred. Since news of Cemex's troubles became public, its ADR price has fallen over 10%, closing at $6.67 per share on March 20, 2018.
Cemex Shareholders Have Legal Options
If you would like more information about your rights and potential remedies, contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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