Loma Negra (LOMA) $24.6M Shareholder Settlement
Loma Negra (LOMA) agreed to settle $24.6M with investors to end claims over the IPO and the corruption scandal.
Case details:
Loma Negra was accused of the following details:
Loma Negra's Registration Statement failed to disclose its exposure to a corruption scandal involving its majority owner.
They also misrepresented of increased demand for its products and economic trends in Argentina.
Loma Negra downplayed known risks that had already materialized at the time of the IPO.
$LOMA plummeted by over 40% below its IPO price after the truth about misrepresentations came out.
Loma Negra has now decided to end all allegations related to the IPO by paying a $24.6M settlement to investors.
Frequently Asked Questions
All persons who purchased or otherwise acquired publicly listed or publicly traded American Depository Shares (“ADSs”) of Loma Negra Compañía Industrial Argentina S.A. pursuant or traceable to the Offering Materials issued in connection with Loma’s IPO.
No, if you have purchased securities within the class period, you are eligible to participate.
You can participate in the settlement and retain (or sell) your securities.
The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.
11thestate is an investor recovery company, we help investors to track and collect securities class action settlements. We will:
Prepare documents for your payout
Audit the claim and make sure you get the maximum possible payout
File a claim with the settlement administration
Correspond with the settlement administration to resolve emerging issues
Deliver payout directly to your brokerage account
There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.