LOS ANGELES–(BUSINESS WIRE) – Schall Law Firm, a national law firm specializing in shareholder rights, announces that, on behalf of investors in Braskem S.A. ("Braskem" or "the Company") (NYSE: BAK) investigating claims for violations of securities laws.
The investigation focuses on whether the company has made false and / or misleading statements and / or has failed to disclose information that is relevant to investors. Braskem announced on July 9, 2020 that Brazilian authorities had notified the company that residents of 1,918 homes had to be evacuated following a geological event caused by the company's mining operations. Braskem estimates that the cost of resettling the residents would be 850 million reais, with an additional 750 million reais for additional measures related to the permanent cessation of salt mining activities. Based on the news, Braskem's ADRs fell more than 6% on the same day.
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In this case, the class is not yet certified and you will not be represented by an attorney until certification. If you don't take action, you can remain an absent class member.
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