NEW YORK, Aug. 11, 2015 /PRNewswire/ -- Faruqi &
Faruqi, LLP, a leading national securities law firm, reminds
investors in Braskem S.A. ("Braskem" or the "Company") (NYSE:BAK)
of the August 31, 2015 deadline to
seek the role of lead plaintiff in a federal securities class
action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the United States District Court
for the Southern District of New
York on behalf of a class consisting of all persons or
entities who purchased Braskem securities between June 1, 2010 and March 11,
2015 (the "Class Period").
The complaint alleges that the Company and its executives
violated federal securities laws by failing to disclose that
Braskem engaged in a bribery scheme that enabled the Company to
purchase raw materials at favorable prices. Specifically, on
March 11, 2015, a report published in
a São Paulo newspaper, Folha de S. Paolo, accused Braskem of
paying at least $5 million annually
to Petrobras, Brazil's semi-public
multinational energy corporation, between 2006 and 2012 to acquire
crude derivative contracts at cheaper prices. The article quoted
testimony made by former Petrobras executive Paulo Roberto Costa and self-confessed money
launderer Alberto Youssef.
With this news, Braskem ADRs fell $1.72 per ADR, to close on March 11, 2015 at $6.71 per ADR, a 20% decline during heavy volume
intraday trading.
Request more information now by clicking here:
www.faruqilaw.com/BAK. There is no cost or obligation to
you.
Take Action
If you invested in Braskem stock or options between June 1, 2010 and March 11,
2015 and would like to discuss your legal rights, visit
www.faruqilaw.com/BAK. You can also contact us by calling
Richard Gonnello toll free at
877-247-4292 or at 212-983-9330 or by sending an e-mail to
rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also
encourages anyone with information regarding Braskem's conduct to
contact the firm, including whistleblowers, former employees,
shareholders and others.
Attorney Advertising. The law firm responsible for this
advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter.
We welcome the opportunity to discuss your particular case.
All communications will be treated in a confidential
manner.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello,
Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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