LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a global investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired Loma Negra Compania Industrial Argentina Sociedad Anonima (“Loma” or the “Company”) (NYSE: LOMA) securities pursuant or traceable to the Company’s November 2017 initial public offering. Loma investors have until February 4, 2019 to file a lead plaintiff motion.
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The complaint filed in this class action alleges that the Company misled investors by: (1) downplaying and misrepresenting Loma Negra’s exposure to a massive, ongoing corruption scandal engulfing its majority owner, InterCement Participacoes S.A.; (2) misrepresenting a purported increased demand for Loma Negra’s cement and other products as a result of economic growth and government funding for public works projects in Argentina, as well as the purported benefits to Loma Negra from that increased demand; (3) misrepresenting events and trends in the Argentinean economy, as well as Loma Negra’s exposure thereto; and (4) including references to known risks that “if” occurring “might” or “could” affect Loma Negra, despite the fact that these “risks” had already materialized at the time of the IPO.
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If you purchased shares of Loma during the Class Period you may move the Court no later than February 4, 2019 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 firstname.lastname@example.org, 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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