The Klein Law Firm announces that a class action complaint has been filed on behalf of investors who purchased American Depositary Shares of Loma Negra Compañía Industrial Argentina Sociedad Anónima (NYSE: LOMA) pursuant to the November 2017 Initial Public Offering.
The complaint alleges that the Registration Statement contained untrue statements of material fact and omitted material facts. In particular, the Registration Statement downplayed and misrepresented Loma Negra’s exposure to a massive, ongoing corruption scandal engulfing its majority owner, InterCement Participações S.A. The Registration Statement further misrepresented 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. The Registration Statement also misrepresented events and trends in the Argentinian economy, as well as Loma Negra’s exposure thereto.
Shareholders have until February 4, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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