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 Ternium S.A. (Ternium or the Company) (NYSE: TX) securities between May 1, 2014 and November 27, 2018, inclusive (the Class Period). Ternium investors have until January 28, 2019 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
On November 27, 2018, Bloomberg published an article alleging that Terniums Chairman Paolo Rocca, was indicted for his role in a graft scheme. Specifically the article alleges that, the judge charged Rocca after the Argentine billionaire testified that one of his companys executives paid an undisclosed amount of cash to government officials in monthly installments from 2009 to 2012. On this news, Terniums share price fell $1.42 per share or nearly 5% to close at $28.02 per share on November 27, 2018, thereby injuring investors.
The complaint filed in this class action alleges that, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Defendant Rocca, Ternium’s Chairman, knew that one of his company’s executives paid cash to government officials from 2009 to 2012 to expedite compensation payments for the sale of Ternium’s Sidor unit; (2) this conduct would lead Rocca to be charged in a graft scheme and subject Ternium, its affiliates, and/or its executives to heightened governmental scrutiny; and (3) as a result, Ternium’s public statements were materially false and/or misleading at all relevant times.
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If you purchased shares of Ternium during the Class Period you may move the Court no later than January 28, 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 [email protected], 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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