Attorneys at Law LLP (“Scott+Scott”), a national securities and
consumer rights litigation firm, is investigating whether Loma Negra
Compañía Industrial Argentina Sociedad Anónima (NYSE: LOMA) (“Loma
Negra” or the “Company”) or certain of its directors and officers
violated federal securities laws. If you purchased Loma Negra ADSs in
or after the Company’s November 2017 initial public offering (“IPO”),
you are encouraged to contact a Scott+Scott attorney at (844) 818-6982
for additional information.
Loma Negra, together with its subsidiaries, manufactures and markets
cement and its byproducts in Argentina and Paraguay.
This investigation concerns whether Loma Negra’s filings with the U.S.
Securities and Exchange Commission in connection with the IPO contained
untrue statements of material fact or omitted material information,
specifically regarding the Argentine economy slowing down and the
infrastructure projects which Loma Negra heavily depended on being the
first to be cut by the government.
On May 13, 2018, UBS AG downgraded the company’s ADSs to “sell” from
“buy.” UBS also lowered its twelve-month price target from $26.50 to
$14.50, citing macroeconomic headwinds related to the economic climate
in Argentina and cuts to infrastructure spending by the Argentinian
government. On May 23, 2018, news emerged that Argentina’s National
Commission of Competition Defense was investigating Argentina’s cement
companies for price-fixing.
The price of Loma Negra ADSs has dropped over 40% from its IPO price,
closing at $11.24 on July 31, 2018.
What You Can Do
If you purchased Loma Negra ADSs, and you wish to discuss this
investigation, please contact attorney Joe Pettigrew at (844) 818-6982,
or at firstname.lastname@example.org,
or visit the Loma Negra investigation page on our website at https://scott-scott.com/investigation/loma-negra-compania-industrial-argentina-sociedad-anonima/.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities,
antitrust, and employee retirement plan actions throughout the United
States. The firm represents pension funds, foundations, individuals, and
other entities worldwide with offices in New York, London, Connecticut,
California, and Ohio.
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