Loma Negra Compania Industrial Argentina Sociedad Anonima : American Depositary Shares Securities Litigation
On or around 06/28/2020 (Other)
Filing Date: December 05, 2018
According to the Complaint, Loma Negra Compania Industrial Argentina Sociedad Anonima ("Loma Negra" or the Company) is a South American manufacturer and distributor of cement, concrete, and other building materials.
In November 2017, Defendants commenced Loma Negra’s initial public offering (“IPO”), issuing approximately 53.5 million ADS to the investing public at $19 per share, all pursuant to the Company’s Registration Statement.
The Complaint alleges that the Registration Statement contained untrue statements of material fact and omitted to state material facts both required by governing regulations and necessary to make the statements made not misleading.
On February 25, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on April 26. Defendants filed a Motion to Dismiss the amended Complaint on September 19. On April 27, 2020, the Court issued an Order granting Defendants' Motion to Dismiss. On May 28, Lead Plaintiff filed a notice appealing the Court's Dismissal Order.
Company & Securities Information
Defendant: Loma Negra Compania Industrial Argentina Sociedad Anonima
Sector: Capital Goods
Industry: Construction - Raw Materials
Ticker Symbol: LOMA
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Eugenio Carmona, et al. v. Loma Negra Compania Industrial Argentina Sociedad Anonima, et al.