The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Sasol Limited (NYSE: SSL) who purchased shares between March 10, 2015 and January 13, 2020. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Sasol Limited lawsuit alleges that (i) Sasol had conducted insufficient due diligence into, and failed to account for multiple issues with, the Lake Charles Chemicals Project (“LCCP”), as well as the true cost of the project; (ii) construction and operation of the LCCP was consequently plagued by control weaknesses, delays, rising costs, and technical issues; (iii) these issues were exacerbated by Sasol’s top-level management, who engaged in improper and unethical behavior with respect to financial reporting for the LCCP and the project’s oversight; (iv) all the foregoing was reasonably likely to render the LCCP significantly more expensive than disclosed and negatively impact the Company’s financial results; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until April 6, 2020 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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