EQUITY ALERT: The Rosen Law Firm Announces the Filing of a Securities Class Action Lawsuit Against Braskem S.A. – BAK
July 01 2015 - 5:57PM
Business Wire
The Rosen Law Firm, a global investor rights firm, announces
that a class action lawsuit has been filed on behalf of purchasers
of Braskem S.A. (NYSE:BAK) securities from June 1, 2010 through
March 11, 2015, all dates inclusive. The lawsuit seeks to recover
damages for Braskem investors under the federal securities
laws.
To join the Braskem class action, go to the firm’s website at
http://www.rosenlegal.com/cases-659.html or call Phillip Kim, Esq.
or Jonathan Horne, Esq. toll-free at 866-767-3653 or email
pkim@rosenlegal.com or jhorne@rosenlegal.com for information on the
class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO
NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
On March 11, 2015, a report from a São Paulo newspaper, Folha de
S. Paolo, implicated Braskem in the corruption scandal surrounding
Petrobras. Braskem paid at least $5 million annually to Petrobras
between 2006 and 2012, according to a testimony made by former
Petrobras executive Paulo Roberto Costa and self-confessed money
launderer Alberto Youssef, as reported by Folha de S. Paolo. The
payments were made to acquire crude derivative contracts like
propylene and naphtha at cheaper prices. On this news, shares of
Braskem fell over 20% on March 11, 2015, damaging shareholders.
A class action lawsuit has already been filed. If you wish to
serve as lead plaintiff, you must move the Court no later than
August 31, 2015. A lead plaintiff is a representative party acting
on behalf of other class members in directing the litigation. If
you wish to join the litigation, go to the firm’s website at
http://www.rosenlegal.com/cases-659.html or to discuss your rights
or interests regarding this class action, please contact Phillip
Kim, Esq. or Jonathan Horne, Esq. of The Rosen Law Firm, toll-free,
at 866-767-3653, or via e-mail at pkim@rosenlegal.com or
jhorne@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
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Laurence Rosen, Esq.Phillip Kim, Esq.Jonathan Horne, Esq.The
Rosen Law Firm, P.A.275 Madison Avenue, 34th FloorNew York, NY
10016Tel: (212) 686-1060Toll Free: (866) 767-3653Fax: (212)
202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com