BRASKEM SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In B...
August 21 2015 - 9:19PM
Business Wire
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.
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FARUQI & FARUQI, LLP369 Lexington Avenue, 10th FloorNew
York, NY 10017Attn: Richard Gonnello,
Esq.rgonnello@faruqilaw.comTelephone: (877) 247-4292 or (212)
983-9330