SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Shareholders of IRSA Inversiones y Representaciones S.A. of Class Action and...
April 18 2016 - 11:00AM
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.
CONTACT:
Levi & Korsinsky, LLP
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
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