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Robbins Arroyo LLP: Ferroglobe PLC (GSM) Sued for Misleading ShareholdersShareholder rights law firm Robbins Arroyo LLP announces that shareholders of Ferroglobe PLC (NASDAQ: GSM) filed a class action complaint against the company for alleged violations of the Securities and Exchange Act of 1934 between August 21, 2018 and November 26, 2018. Ferroglobe produces and sells products such as aluminum, silicon compounds, automotive parts, photovoltaic cells, electronic semiconductors, and steel. View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/ferroglobe-plc/ Ferroglobe Accused of Making False and Misleading Statements According to the complaint, Ferroglobe failed to disclose to investors that demand for its products was declining because of an excess supply of the company's products in the market. On November 26, 2018, Ferroglobe reported a net loss of $2.9 million for the third quarter 2018, compared to a net profit of $66.0 million for the prior quarter. On this news, the company's stock fell more than 62%, to close at $1.80 per share on November 27, 2018, and has yet to recover from its demise. Ferroglobe Shareholders Have Legal Options Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leo Kandinov at (800) 350-6003, [email protected], or via the shareholder information form on the firm's website. Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Attorney Advertising. Past results do not guarantee a similar outcome.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190319005719/en/ |
