TRADING ALERT: Rosen Law Firm Reminds Abengoa, S.A. Investors of Important October 9, 2015 Deadline & Expanded Class Period i...
October 08 2015 - 11:25AM
Business Wire
Rosen Law Firm, a global investor rights firm, reminds
purchasers of Abengoa, S.A. (NASDAQ:ABGB) American Depository
Shares from October 13, 2013 through August 2, 2015, inclusive (the
“Class Period”) of the important October 9, 2015 lead plaintiff
deadline in the class action. The lawsuit seeks to recover
investors’ losses under the federal securities laws.
To join the Abengoa class action, visit the firm’s website at
http://www.rosenlegal.com/cases-697.html, or contact Phillip Kim,
Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or via email at
pkim@rosenlegal.com or kchan@rosenlegal.com for information on the
class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN
AN ABSENT CLASS MEMBER. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, Abengoa and certain of its past and
present executive officers and directors have misrepresented the
liquidity of Abengoa’s balance sheet in corporate reports filed
with the SEC and during conference calls with financial analysts.
These misrepresentations artificially elevated the trading price of
Abengoa’s ADS.
On July 31, 2015, Abengoa revealed that it would decrease its
free cash flow guidance, and prepare to divest itself of 400
million euros in assets. However, Defendant Santiago Seage
maintained that “the company has no plan to…tap the capital markets
in any manner.” Then on August 3, 2015, contrary to this statement,
Abengoa announced a share issuance plan to raise 650 million euros,
along with an asset divestiture totaling 500 million euros.
Consequently, Abengoa’s ADS fell more than $5 per share or 46% to
close at $6 on August 4, 2015.
If you wish to serve as lead plaintiff, you must move the Court
no later than October 9, 2015. A lead plaintiff is a representative
party acting on behalf of other class members in directing the
litigation. If you wish to join the litigation, go to the firm’s
website at http://www.rosenlegal.com/cases-697.html or to discuss
your rights or interests regarding this class action, please
contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm
toll-free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or
kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151008006062/en/
The Rosen Law Firm, P.A.Laurence Rosen, Esq.Phillip Kim,
Esq.Kevin Chan, Esq.275 Madison Avenue, 34th FloorNew York, NY
10016Tel: (212) 686-1060Toll Free: (866) 767-3653Fax: (212)
202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com