Portnoy Regulation: Lawsuit filed in favor of Braskem SA buyers – GlobeNewswire
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LOS ANGELES, Sep 4, 2020 (GLOBE NEWSWIRE) – Law firm Portnoy advises investors that a class action lawsuit has been filed on behalf of investors of Braskem SA ("Braskem" or "the Company") (NYSE: BAK) between acquired securities May 6, 2016 and July 8, 2020.
Investors are encouraged to contact Attorney Lesley F. Portnoy by phone at 310-692-8883 or email to determine eligibility to participate in this promotion or click here to join the case.
The investigation focuses on whether the company has made misleading and / or false information and / or failed to disclose information relevant to investors. On July 9, 2020, Braskem announced that the company had been warned by Brazilian authorities that residents of 1,918 homes had to be evacuated after the company's mining caused a geological event. 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. On the same day, Braskem's ADRs fell more than 6% on the news.
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Portnoy law firm represents investors in pursuing claims arising from corporate infringements. The company's founding partner has confiscated over $ 5.5 billion for aggrieved investors. Lawyer advertising. Previous results do not guarantee similar results.
Lesley F. Portnoy, Esq.
Approved CA and NY bar