Loma Negra (LOMA) $24.6M Shareholder Settlement

It is still possible to file a late claim. The court will decide whether to accept late claims or not.

653114/2018

Case number

11/01/2017

Class period Start

06/21/2018

Class period End

04/19/2024

Claim deadline

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.

Case Status

Accepting Late Claims

Alleged Offence

Mismanagement,

Misleading Statements,

Omissions

Suspected Party

Directors,

Management

Security Type

Depository Securities (ADS, ADR, GDR)

Trade Direction

Long

Plaintiffs

Dan Kohl

Attorneys

Levi & Korsinsky, LLP

Defendants

Sergio Faifman, Marco Gradin, Ricardo Fonseca De Mendonça Lima, Luiz Augusto Klecz, Paulo Diniz, Carlos Boero Hughes, Diana Mondino, Sergio Daniel Alonso

Judge

Andrew Borrok

Administrator

A.B. Data Ltd

Court hearing date

04/10/2024

Exclusion deadline

03/20/2024

Objection deadline

03/20/2024

Trades matching type

FIFO

+$24,600,000

Cash Settlement Amount

Frequently Asked Questions

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