INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Shareholders of IRSA Inversiones y Representaciones S.A. of Class Action & a L...
April 14 2016 - 10:06AM
Business Wire
The following statement is being issued by Levi & Korsinsky,
LLP:
To: All persons or entities who purchased or otherwise
acquired American Depositary Receipts of IRSA Inversiones y
Representaciones S.A. (“IRSA”) (NYSE: IRS) between November 3, 2014 and December 30,
2015.
You are hereby notified that a securities class action
has been commenced in the USDC for the Central District of
California. If you purchased or otherwise acquired IRSA ADRs
between November 3, 2014 and December 30, 2015, your rights may be
affected by this action. To get more information go to:
http://zlk.9nl.com/irsa.
The complaint alleges that throughout the Class Period
Defendants issued false and misleading statements to investors
and/or failed to disclose that: (1) IRSA’s subsidiary, Dolphin
Netherlands B.V. (“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; (2) the impending
consolidation of IDBD’s debt would violate IRSA’s Global Notes
Indenture; (3) the terms of the February 10, 2015 related party
transaction between Dolphin and Inversiones Financieras Del Sur
S.A.; and (4) as a result, IRSA’s public statements were materially
false and misleading at all relevant times.
If you suffered a loss in IRSA you have until April 25, 2016 to request that the Court
appoint you as lead plaintiff. Your ability to share in any
recovery doesn’t require that you serve as a lead plaintiff. To
obtain additional information, contact Joseph E. Levi, Esq. either
via email at jlevi@zlk.com or by telephone at (212) 363-7500,
toll-free: (877) 363-5972, or visit
http://zlk.9nl.com/irsa.
Levi & Korsinsky is a national firm with offices in New
York, New Jersey, California, Connecticut, and Washington D.C. The
firm’s attorneys have extensive expertise and experience
representing investors in securities litigation involving financial
fraud, and have recovered hundreds of millions of dollars for
aggrieved shareholders. Attorney advertising. Prior results do not
guarantee similar outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20160414005999/en/
Levi & Korsinsky, LLPEduard Korsinsky, Esq.Tel:
212-363-7500Toll Free: 877-363-5972Fax: 212-363-7171www.zlk.com
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