NEW YORK, Aug. 19, 2019 /PRNewswire/ -- Bragar Eagel & Squire, P.C. is investigating potential claims against Sasol Limited (SSL) on behalf of Sasol investors. Our investigation concerns whether Sasol has violated the federal securities laws and/or engaged in other unlawful business practices.
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On August 16, 2019, the company announced that it was delaying the announcement of its financial results for fiscal year 2019 due to possible "control weaknesses" at its Lake Charles chemicals project in Louisiana. Furthermore, the company announced that the Lake Charles project, which initially was expected to cost $8.9 billion, has experienced delays and rising costs. Consequentially, cost guidance for the project has increased to at least $12.6 billion. Finally, the company announced that it will delay the start of an ethane cracker at the project due to a technical glitch related to a large heat exchanger.
On this news, Sasol's stock price fell sharply on August 16, 2019, to close at $17.67.
If you purchased or otherwise acquired Sasol shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into Sasol please go to https://bespc.com/SSL. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
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