LOS ANGELES--(BUSINESS WIRE)--National securities litigation law firm Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired the securities of Glencore Plc (“Glencore” or the “Company”) (OTC: GLCNF, GLNCY) between September 30, 2016 and July 2, 2018, inclusive (the “Class Period”). Glencore investors have until September 7, 2018 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
Investors that suffered losses on their Glencore investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.com.
On July 3, 2018, Glencore disclosed that it received a subpoena from the U.S. Department of Justice requesting production documents and other records related to the Company’s compliance with the Foreign Corrupt Practices Act and United States money laundering statutes. On this news, Glencore’s share price fell approximately 9% on July 3, 2018, thereby injuring investors.
The complaint filed in this class action alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) Glencore’s conduct would subject it to heightened scrutiny by U.S. and foreign government bodies resulting in investigations into the company’s compliance with money laundering and bribery laws, as well as the Foreign Corrupt Practices Act; and (2) as a result, defendants’ statements about Glencore’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
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If you purchased shares of Glencore during the Class Period you may move the Court no later than September 7, 2018 to ask the Court to appoint you 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 Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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