Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of LSB Industries Inc (NYSE: LXU) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of LSB Industries Inc (NYSE: LXU) concerning whether a series of statements by LSB Industries Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On August 7, 2015, before market-open, LSB Industries Inc announced its financial and operating results for the second quarter of 2015. It revealed that they fell short of earnings estimates by $0.35 cents. At the same time, its board's Strategic Committee had presented the company with a report and certain recommendations on July 30, 2015 following an evaluation of the Company's business strategy, corporate governance structure, related party transactions and other governance practices of the Company. Lance Benham, Chairman of the Strategic Committee, said, "We believe the actions taken by the Board will significantly improve the Company's corporate governance structure, enhance the execution of the Company's strategic growth initiatives and ultimately drive improved shareholder value. We look forward to seeing the benefits of these initiatives and continuing to work with the management team as it lowers production costs, improves manufacturing efficiency and drives sales growth which, we believe, will lead to enhanced profitability."
After the release of this news, NYSE: LXU stock has declined as much as $11.73, or 33%, on intraday trading on August 7, 2015.
Based in Oklahoma City, OK, founded in 1968 and operating in the business segments of Chemical and Climate Control, LSB Industries Inc manufactures and sells chemical products, water source and geothermal heat pumps, and air handling products. The company also sells industrial machinery and related components to machine tool dealers and end users.
If you purchased shares of LSB Industries Inc (NYSE: LXU) on or before August 7, 2015, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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