Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria
0 DAYS LEFT TO SEEK LEAD PLAINTIFF STATUS
Case Summary | |
Company Name: | Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria |
Stock Symbol : | NASDAQ: CRESY |
Class Period Start: | 05/13/2015 |
Class Period End: | 12/30/2015 |
Lead Plaintiff motion: | 06/28/2016 |
Date Filed: | 04/29/2016 |
Type of Case: | Securities Class Action |
Court: | U.S. District Court for the Eastern District of Pennsylvania |
Summary: | Thieler Law Corp advises investors with losses exceeding $100,000 of the June 28, 2016 lead plaintiff deadline in a class action lawsuit filed against Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (NASDAQ: CRESY) (“Cresud” or “the Company”). The suit is pending in the U.S. District Court for the Eastern District of Pennsylvania and investors, who purchased Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria securities between May 13, 2015 through December 30, 2015, have until June 28, 2016 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class. If you purchased Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class. The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Dolphin does not adequately qualify as a Venture Capital Organization, and therefore, IDB Development Corporation Limited’s (“IDBD”) $6.7 billion net debt should be consolidated with IRSA’s financial statements; as such, Cresud’s financial statements failed to consolidate IDBD’s $6.7 billion net debt; IRSA’s impending consolidation of IDBD’s debt would violate IRSA’s Global Notes Indenture, as IRSA would be in breach of the “Incurrence of Additional Indebtedness” covenant, which prohibits its EBITDA to interest coverage ratio to be less than 1.75x; and as a result, the Company’s public statements were materially false and misleading at all relevant times. If you were negatively impacted by your investment in Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria securities between May 13, 2015 through December 30, 2015 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation. Thieler Law Corp purchases advertisements on search engines, social media sites and other websites. If you send us information, note that does not create an attorney-client relationship with the firm. Thieler Law Corp 2534 State Street - Suite 406, San Diego, CA 92101 by email: mail@thielerlaw.com or telephone at +1 (619) 377 - 4324 or visit our website http://www.thielerlaw.com/ or Facsimile: +1 (619) 785 – 3185
|